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- Original (As enacted)
Finance Act 1990 is up to date with all changes known to be in force on or before 10 October 2024. There are changes that may be brought into force at a future date.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the affected provisions when you open the content using the Table of Contents below.
Part I Customs and Excise and Value Added Tax
Part II Income Tax, Corporation Tax and Capital Gains Tax
Employee share ownership trusts
Insurance companies and friendly societies
60. Allowance for abandonment expenditure related to offshore machinery or plant.
61. Carrying back of losses referable to allowance for abandonment expenditure.
63. Disposals of certain shares deriving value from exploration or exploitation assets or rights.
64. Limitation of losses on disposal of oil industry assets.
Part III Stamp Duty and Stamp Duty Reserve Tax
SCHEDULES
Part II Amendments of Part I of Schedule 4 to the 1971 Act
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6.(1) Paragraph 5 (special types of vehicle) shall be amended...
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Part IV Tables Substituted in Part II of Schedule 4 to the 1971 Act and the 1972 Act
Building Societies and Deposit-Takers
5.(1) Section 479 (interest paid on deposits with banks etc.)...
6.(1) Section 480 (deposits becoming or ceasing to be composite...
7.(1) The following sections shall be inserted immediately before section...
8.(1) Section 481 (definitions of relevant deposit etc. ) shall...
9.(1) Section 482 (supplementary provisions) shall be amended as follows....
10.(1) Section 349 (annual interest etc. ) shall be amended...
11.(1) In section 352(1) (certificates of deduction of tax) for...
12.(1) In section 483 (determination of reduced rate for building...
13.(1) In section 686 (liability to additional rate tax of...
14.(1) In section 687 (payments under discretionary trusts) in subsection...
Life Assurance: Apportionment of Income etc.
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8.For section 440 of that Act there shall be substituted—...
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Overseas Life Assurance Business
Insurance Companies: Transfers of Long Term Business
European Economic Interest Groupings
Broadcasting: Transfer of Undertakings of Independent Broadcasting Authority and Cable Authority
Transfer of IBA’s transmission activities to nominated company: corporation tax
Transfer of IBA’s assets to Commission and Radio Authority: chargeable gains
Disposal by IBA of DBS assets to DBS programme contractor: chargeable gains
Transfer of Cable Authority’s assets to Commission: chargeable gains
Transfer of shares from Commission to Channel 4 company: chargeable gains
Apportionment of unallowed capital losses between relevant transferees
Amendments Correcting Errors in the Taxes Act 1988
Part I Amendments of the Taxes Act 1988
3.In section 213(6), for “(3)(1)(a)” there shall be substituted “...
5.In section 326(2)(a), for the words from “12” to “1969”...
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8.In section 478(3), for the words “section (2)” there shall...
9.In section 751(1)(a), for the words “the persons” there shall...
10.In section 757(7), before the words “the earliest date” there...
11.In section 761(1), for the words “and Schedule” there shall...
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Part II Amendments of Other Enactments
3.(1) Section 22 (first-year allowances: transitional relief for regional projects)...
4.(1) Section 23 (information relating to first-year allowances) shall be...
5.(1) Section 24 (writing-down allowances and balancing adjustments) shall be...
6.(1) Section 25 (qualifying expenditure) shall be amended as follows....
Machinery and plant: leased assets and inexpensive cars
9.In section 41 (writing-down allowances) in subsection (3) the words...
10.In section 46 (recovery of excess relief: new expenditure) in...
11.In section 47 (recovery of excess relief: old expenditure) in...
12.In section 48 (information relating to allowances made in respect...
13.In section 49 (information relating to allowances made in respect...
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