http://www.legislation.gov.uk/ukpga/1996/8/section/149Finance Act 1996An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1996-04-29texttext/xmlenStatute Law Database2026-04-15Expert Participation2026-03-18 Part IV Income Tax, Corporation Tax and Capital Gains TaxChapter VI Miscellaneous provisions Reliefs<Addition ChangeId="d29p16060"> Annual payments in residuary cases.</Addition>1491Section 347A of the Taxes Act 1988 (annual payments not a charge on the income of a payer) shall apply to any payment made on or after 6th April 1996—ain pursuance of any obligation which falls within section 36(4)(a) of the Finance Act 1988 (existing obligations under certain court orders), andbfor the benefit, maintenance or education of a person (whether or not the person to whom the payment is made) who attained the age of 21 before 6th April 1994,as if that obligation were not an existing obligation within the definition contained in section 36(4) of the Finance Act 1988.2Subsection (1) above does not apply to any payment to which section 38 of the Finance Act 1988 (treatment of certain maintenance payments under existing obligations) applies.S. 149 repealed (27.7.1999 with effect as mentioned in Sch. 20 Pt. III(6), Note of the amending Act) by 1999 c. 16, s. 139, Sch. 20 Pt. III(6)1988 c. 39.