http://www.legislation.gov.uk/ukpga/2006/25/section/68Finance Act 2006An 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.texttext/xmlenStatute Law Database2026-05-05Expert Participation2026-04-01 Part 3 Chapter 6681The Treasury may make regulations—aexempting specified classes of person from income tax in respect of specified classes of income arising from participation in London Olympic events;bproviding for specified classes of activity undertaken in connection with London Olympic events to be disregarded for purposes of corporation tax, income tax or capital gains tax;cproviding for specified classes of activity in connection with London Olympic events to be disregarded in determining for fiscal purposes whether a person has a permanent establishment in the United Kingdom;ddisapplying the duties to deduct under Chapters 6, 7, 10 and 14 of Part 15 of ITA 2007 (deduction of income tax at source) in consequence of provision made under paragraphs (a) to (c) above.2The regulations may specify classes of person wholly or partly by reference to—aresidence outside the United Kingdom, determined in such manner as the regulations may provide;bdocuments issued or authority given by such persons exercising functions in connection with the London Olympics as the regulations may provide.3Regulations under this section—amay make provision which applies generally or only in specified cases or circumstances,bmay make different provision for different cases or circumstances, andcmay include incidental, consequential or transitional provision.4Regulations under this section—ashall be made by statutory instrument, andbshall be subject to annulment in pursuance of a resolution of the House of Commons.5In this section “London Olympic event” and “the London Olympics” have the meaning given by section 1 of the London Olympic Games and Paralympic Games Act 2006.Words in s. 68(1)(d) substituted (6.4.2007 with effect as mentioned in s. 1034(1)) by Income Tax Act 2007 (c. 3), ss. 1027, 1034, Sch. 1 para. 614 (with transitional provisions and savings in Sch. 2)