- Latest available (Revised)
- Original (As enacted)
Income Tax Act 2007 is up to date with all changes known to be in force on or before 08 December 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.
Chapter 2 Rates at which income tax is charged
Income charged at particular rates
10.Income charged at the ... basic , higher and additional rates: individuals
11.Income charged at the default basic rate: non-individuals
11B.Income charged at the Welsh basic, higher and additional rates
11C. Income charged at the default basic, higher and additional rates: non-UK resident individuals
11D.Income charged at the savings basic, higher and additional rates
13.Income charged at the dividend ordinary , dividend upper and dividend additional rates: individuals
14.Income charged at the dividend ordinary rate: other persons
15.Income charged at the trust rate and the dividend trust rate
16.Savings and dividend income to be treated as highest part of total income
17.Repayment: tax paid at greater rate instead of starting rate for savings or savings nil rate
Restriction on relief for “hobby” farming or market gardening
General restrictions on sideways relief and capital gains relief
Restrictions on sideways relief for certain capital allowances
Chapter 3 Restrictions on trade loss relief for certain partners
Chapter 4 Losses from property businesses
Part 5 Enterprise investment scheme
195.Excluded activities: receipt of royalties and licence fees
197.Excluded activities: hotels and comparable establishments
198.Excluded activities: nursing homes and residential care homes
198B.Excluded activities: subsidised generation of heat and subsidised production of gas or fuel
199.Excluded activities: provision of services or facilities for another business
Chapter 5 Attribution of and claims for EIS relief
Chapter 6 Withdrawal or reduction of EIS relief
Chapter 7 Withdrawal or reduction of EIS relief: procedure
PART 5A Seed enterprise investment scheme
CHAPTER 3 General requirements
CHAPTER 5 Attribution and claims for SEIS relief
CHAPTER 7 Withdrawal or reduction of SEIS relief: procedure
CHAPTER 8 Supplementary and general
PART 5B Tax relief for social investments
CHAPTER 2 Eligibility for relief: basic rule and key definitions
CHAPTER 3 Eligibility: conditions relating to the investor and the investment
257L.Investment to be in new shares or new qualifying debt investments
257LA.Condition that the amount invested must have been paid over
257LF.Restrictions on being an employee, partner or paid director
257LG.The requirement not to be interested in capital etc of social enterprise
257LH.Requirement for no collusion with a non-qualifying investor
CHAPTER 4 Eligibility: conditions relating to the social enterprise
Interpretation of conditions relating to the social enterprise
CHAPTER 7 Withdrawal or reduction of SI relief
CHAPTER 8 Withdrawal or reduction of SI relief: procedure
292.Ceasing to meet requirements because of administration or receivership
292A.The maximum amount raised annually through risk finance investments requirement
292AA.Maximum risk finance investments when relevant holding is issued requirement
292AB.Maximum risk finance investments during the 5-year post-investment period requirement
292B.The spending of money raised by SEIS investment requirement
294.The relevant company to carry on the relevant qualifying activity requirement
306.Excluded activities: receipt of royalties and licence fees
308.Excluded activities: hotels and comparable establishments
309.Excluded activities: nursing homes and residential care homes
309B.Excluded activities: subsidised generation of heat and subsidised production of gas or fuel
310.Excluded activities: provision of services or facilities for another business
Chapter 6 Supplementary and general
CHAPTER 1A Irrecoverable peer-to-peer loans
Chapter 3 Gifts of shares, securities and real property to charities etc
Part 9 Special rules about settlements and trustees
PART 9A Transactions in UK land
Part 10 Special rules about charitable trusts etc
520.Gifts entitling donor to gift aid relief: income tax treated as paid
521.Gifts entitling donor to gift aid relief: income tax liability and exemption
521A.Gifts under payroll deduction schemes: income tax liability and exemption
522.Gifts of money from companies: income tax liability and exemption
523.Payments from other charities: income tax liability and exemption
Part 11 Manufactured payments and repos
Chapter 2 Manufactured payments
Chapter 4 Deemed manufactured payments
596.Deemed manufactured payments: stock lending arrangements
597.Deemed interest: cash collateral under stock lending arrangements
598.Cash collateral under stock lending arrangements: supplementary
599.Sections 597 and 598: quasi-stock lending arrangements and quasi-cash collateral
600.Meaning of “quasi-stock lending arrangements” and “quasi-cash collateral”
Chapter 5 Price differences under repos
Part 11A Leasing arrangements: finance leases and loans
Chapter 2 Finance leases with return in capital form
Current lessor taxed by reference to accountancy rental earnings
Reduction of taxable rent by cumulative rental excesses
614BG.Reduction of taxable rent by cumulative rental excesses: introduction
614BH.Meaning of “accountancy rental excess” and “cumulative accountancy rental excess”
614BI.Reduction of taxable rent by the cumulative accountancy rental excess
614BJ.Meaning of “normal rental excess” and “cumulative normal rental excess”
614BK.Reduction of taxable rent by the cumulative normal rental excess
Relief for bad debts by reduction of cumulative rental excesses
Part 12 Accrued income profits
Chapter 2 Accrued income profits and losses
Transfers to which Chapter applies
Special rules about some calculations
659.Transfers with or without accrued interest: interest in default
661.Successive transfers with unrealised interest in default
662.New securities issued with extra return: special rules about payments
663.Transfers without accrued interest to makers of manufactured payments
664.Foreign currency securities: sterling equivalent of payments on transfers
665.Foreign currency securities: unrealised interest payable in foreign currency
Chapter 1 Transactions in securities
Chapter 2 Transfer of assets abroad
Charge where power to enjoy income
720.Charge to tax on income treated as arising under section 721
721.Individuals with power to enjoy income as a result of relevant transactions
721A.Meaning of “protected foreign-source income” in section 721
722.When an individual has power to enjoy income of person abroad
724.Special rules where benefit provided out of income of person abroad
725.Reduction in amount charged where controlled foreign company involved
726.Non-UK domiciled individuals to whom remittance basis applies
731.Charge to tax on income treated as arising under section 732
732. Individuals receiving a benefit as a result of relevant transactions
733A.Settlor liable for section 731 charge on closely-related beneficiary
733C.Cases where income treated as arising to recipient of onward gift
733D.Cases where deemed income attributed to recipient of onward gift
734.Reduction in amount charged: previous capital gains tax charge
734A.Reduction in amount charged: previous settlements charge
735.Non-UK domiciled individuals to whom remittance basis applies
735A.Section 735: relevant income and benefits relating to foreign deemed income
735B.Settlor liable under section 733A and remittance basis applies
735C.Person liable under section 733C or 733E and remittance basis applies
Exemptions: no tax avoidance purpose or genuine commercial transaction
737.Exemption: all relevant transactions post-4 December 2005 transactions
739.Exemption: all relevant transactions pre-5 December 2005 transactions
740.Exemption: relevant transactions include both pre-5 December 2005 and post-4 December 2005 transactions
742.Partial exemption where later associated operations fail conditions
742A.Post-5 April 2012 transactions: exemption for genuine transactions
744.Meaning of taking income into account in charging income tax for section 743
745.Rates of tax applicable to income charged under sections 720 and 727 etc
746.Deductions and reliefs where individual charged under section 720 or 727
747.Amounts corresponding to accrued income profits and related interest
Chapter 3 Transactions in land
Chapter 4 Sales of occupation income
Chapter 5 Avoidance involving trading losses
Individuals in partnership claiming relief for licence-related trading losses
Chapter 5AA Disposals of income streams through partnerships
Chapter 5B Finance arrangements
CHAPTER 5E Disguised investment management fees
809EZA.Disguised investment management fees: charge to income tax
809EZD.Sums treated as “carried interest” for purposes of section 809EZB
809EZDA.Sums arising to connected persons other than companies
809EZDB.Sums arising to connected company or unconnected person
809EZG.Disguised investment management fees: avoidance of double taxation
Chapter 6 Avoidance involving leases of plant and machinery
809ZA.Plant and machinery leases: capital receipts to be treated as income
809ZC.Section 809ZA: lease of plant and machinery and other property
809ZD.Section 809ZA: expectation that relevant capital payment will not be paid
809ZFA.Consideration for taking over payment obligations as lessee treated as income
Chapter 7 Avoidance involving obtaining tax relief for interest
CHAPTER 8 Tainted charity donations
Part 14 Income tax liability: miscellaneous rules
Application of remittance basis
809C.Claim for remittance basis by long-term UK resident: nomination of foreign income and gains to which section 809H(2) is to apply
809D.Application of remittance basis without claim where unremitted foreign income and gains under £2,000
809E.Application of remittance basis without claim: other cases
Remittance of income and gains: meaning of “remitted to the United Kingdom”
Chapter 1 Limits on liability to income tax of non-UK residents
Chapter 1A Exemption for persons not domiciled in United Kingdom
Chapter 2B UK representative of non-UK resident
Chapter 2C Income tax obligations and liabilities imposed on UK representatives
Part 15 Deduction of income tax at source
Chapter 2 Meaning of “relevant investment” for purposes of section 876
Chapter 3 Deduction from certain payments of yearly interest
Chapter 4 Deduction from payments in respect of building society securities
Chapter 5 Deduction from payments of UK public revenue dividends
Chapter 6 Deduction from annual payments and patent royalties
Chapter 7 Deduction from other payments connected with intellectual property
Chapter 8 Chapters 6 and 7: special provision in relation to royalties
Chapter 9 Manufactured payments
Chapter 10 Deduction from non-commercial payments by companies
Chapter 11 Payments between companies etc: exception from duties to deduct
Chapter 14 Tax avoidance: directions for duty to deduct to apply
Chapter 15 Collection: deposit-takers, building societies and certain companies
Chapter 18 Other regimes involving the deduction of income tax at source
976.Arrangements for payments of interest less tax or at specified net rate
979.Designated international organisations: exceptions from duties to deduct
981.Foreign currency securities etc: exception from duties to deduct
981A.Offshore receipts in respect of intangible property: exception from duties to deduct
Part 16 Income Tax Acts definitions etc
Chapter 2 Other Income Tax Acts provisions
1009.Sources of income within the charge to income tax or corporation tax
1010.Application of Income Tax Acts to recognised investment exchanges
1011.References to married persons, or civil partners, living together
1012.Relationship between rules on highest part of total income
1015.Territorial scope of charges under certain provisions to which section 1016 applies
Part 17 Definitions for purposes of Act and final provisions
SCHEDULES
Minor and consequential amendments
Part 1 Income and Corporation Taxes Act 1988
4.Omit section 4 (construction of references in Income Tax Acts...
5.Omit section 7(1) (deduction of income tax from payments to...
7.Omit section 42A (non-resident landlords and their representatives).
8.Omit sections 50, 51 and 51AA (United Kingdom securities: Treasury...
9.In section 56(3)(c) (transactions in deposits with and without certificates...
11.Omit section 109A (relief for post-cessation expenditure).
13.Omit section 117 (restriction on relief for limited partners: individuals)....
18.Omit sections 118ZE to 118ZK (restriction on reliefs for non-active...
19.Omit sections 118ZL and 118ZM (restriction on reliefs for partnerships...
20.Omit sections 118ZN and 118ZO (partners: meaning of “contribution to...
22.In section 209A(4) (section 209(3AA): link to shares of company...
23.Omit section 214(1)(b) (chargeable payments connected with exempt distributions: deduction...
24.(1) Amend section 231AA (no tax credit for borrower under...
25.(1) Amend section 231AB (no tax credit for original owner...
26.In section 231B(12) (consequences of certain arrangements to pass on...
36.(1) Amend section 266 (life assurance premiums) as follows.
38.Omit section 276 (effect on relief of charges on income)....
41.Omit section 282 (construction of references to spouses or civil...
43.Omit section 305A (relief for loss on disposal of shares)....
44.In section 312(2A) (interpretation of Chapter 3), as it applies...
45.Omit section 320 (Commonwealth Agents-General and official agents etc).
48.Omit section 334 (Commonwealth and Irish citizens temporarily abroad).
50.Omit section 336 (temporary residents in the United Kingdom).
51.(1) Amend section 339 (charges on income: donations to charity)...
54.Omit section 348 (payments out of profits or gains brought...
55.Omit section 349 (payments not out of profits or gains...
56.Omit section 349ZA (extension of section 349: proceeds of sale...
57.Omit sections 349A to 349D (exceptions to section 349 for...
58.Omit section 349E (deductions under section 349(1): payment of royalties...
59.Omit section 350 (charge to tax where payments made under...
60.Omit section 350A (UK public revenue dividends: deduction of tax)....
62.(1) Amend section 353 (relief for payments of interest: general)...
64.Omit section 360 (loan to buy interest in close company)....
65.Omit section 360A (meaning of “material interest” in section 360)....
66.Omit section 361 (loan to buy interest in co-operative or...
68.Omit section 363 (provisions supplementary to sections 360 to 362)....
70.In section 366(1)(c) (information) omit the words from “(or” to...
71.In section 367 (provisions supplementary to sections 354 to 366)...
74.(1) Amend section 397 (restriction of relief in case of...
75.(1) Amend section 398 (transactions in deposits with and without...
76.(1) Amend section 399 (dealings in commodity futures etc :...
77.In section 414(1) (close companies) for “Tax Acts” substitute “...
79.In section 459 (exemption for unregistered friendly societies) omit “income...
80.In section 460(1) (exemption for registered friendly societies: life or...
81.(1) Section 461 (exemption for registered friendly societies: other business)...
82.(1) Amend section 461B (exemption for qualifying incorporated friendly societies:...
84.(1) Amend section 467(1) (exemption for trade unions and employers'...
88.(1) Amend section 477A (building societies: regulations for deduction of...
89.Omit sections 480A to 482 (deduction of tax by deposit-takers)....
90.(1) Amend section 486 (industrial and provident societies and co-operative...
92.(1) Amend section 492 (treatment of oil extraction activities etc...
93.Omit section 504A (letting of furnished holiday accommodation treated as...
101.(1) Amend section 510A (tax treatment of European Economic Interest...
102.Omit section 515 (exemption for signatories to Operating Agreement for...
103.Omit section 516 (Government securities held by non-resident central banks)....
108.(1) Amend section 527 (spreading of royalties over several years)...
110.Omit sections 536 (taxation of royalties where owner abroad), 537...
113.Omit section 555 (entertainers and sportsmen: payment of tax).
115.In section 558 (supplementary provisions) omit subsections (1) to (4)....
116.In section 571 (schemes for rationalising industry: cancellation of certificates)...
117.(1) Amend section 573 (relief for companies) as follows.
133.Omit section 581A (interest on foreign currency securities etc).
135.Omit section 582A (designated international organisations: miscellaneous exemptions).
136.Omit section 587A (new issues of securities: extra return).
140.In section 615(3) (exemption from tax in respect of certain...
142.In section 658(4)(b) (supplementary) omit “(notwithstanding anything in section 348)”....
143.In section 659E(1) (treatment of income from property investment LLPs)...
146.(1) Amend section 687A (discretionary payments made by trustees to...
147.Omit section 689A (disregard of trustees' expenses where beneficiary non-UK...
148.(1) Amend section 689B (order in which trustees' expenses are...
161.(1) Amend section 709 (meaning of “tax advantage” and other...
171.(1) Amend section 736B (deemed manufactured payments in the case...
176.(1) Amend section 737E (power to modify sections 727A, 730A,...
178.In section 747(4) (imputation of chargeable profits and creditable tax...
182.Omit section 775 (sale by individual of income derived from...
192.In section 793 (reduction of United Kingdom taxes by amount...
193.(1) Amend section 796 (limits on credit for foreign tax:...
194.In section 798C (disallowed credit: use as deduction) for subsection...
195.In section 801A (restriction of relief for underlying tax) for...
196.In section 803(10) (underlying tax reflecting interest on loans) for...
197.(1) Amend section 804 (relief against income tax in respect...
198.(1) Amend section 807 (sale of securities with or without...
199.In section 809(1)(a) (relief in respect of discretionary trusts) for...
200.In section 811(2) (deduction for foreign tax where no credit...
201.In section 812(5) (withdrawal of right to tax credit of...
202.In section 816 (disclosure of information)— (a) in subsection (3)...
203.Omit section 818 (arrangements for payments of interest less tax...
205.In section 821(3) (under-deductions from payments made before passing of...
206.Omit section 823 (adjustments of reliefs where given at different...
207.Omit section 827A (territorial scope of charges under certain provisions...
208.(1) Amend section 828 (orders and regulations made by the...
209.Omit section 829 (application of Income Tax Acts to public...
210.In section 830(1) (territorial sea) omit “income tax and”.
211.In section 831(3) (interpretation of ICTA) after the definition of...
212.(1) Amend section 832 (interpretation of the Tax Acts) as...
213.Omit section 833 (interpretation of the Income Tax Acts).
214.In section 834(1) (interpretation of the Corporation Tax Acts), at...
215.Omit section 835 (“total income” in the Income Tax Acts)....
217.Omit section 836B (table of provisions to which that section...
219.(1) Amend section 837A (meaning of “research and development”) as...
220.In section 837B(1) (meaning of “oil and gas exploration and...
221.In section 837C(1) and (5) (meaning of “offshore installation”) for...
222.In section 838(1) (subsidiaries) for “Tax Acts” substitute “ Corporation...
224.In section 840 (meaning of “control” in certain contexts) for...
225.After section 840 insert— Meaning of “tax advantage” (1) In any provision of the Corporation Tax Acts in...
226.In section 840A(1) (banks)— (a) after “In any provision” insert...
228.In section 842(1) (investment trusts) for “Tax Acts” substitute “...
230.In section 842A(1) (meaning of “local authority”) for “Tax Acts”...
231.(1) Amend section 842B (meaning of “ investment LLP ”...
232.(1) Amend Schedule 14 (provisions ancillary to section 266) as...
233.In Part 1 of Schedule 15 (qualifying policies for the...
234.Omit Part 1 of Schedule 15B (venture capital trusts: relief...
235.Omit Schedule 16 (collection of income tax on company payments)....
236.In paragraph 2(b) of Schedule 19B (petroleum extraction activities: exploration...
237.(1) Amend Schedule 20 (charities: qualifying investments and loans) as...
238.(1) Amend Schedule 23A (manufactured dividends and interest) as follows....
239.In Schedule 28AA (provision not at arm's length) in paragraph...
240.Omit Schedule 28B (venture capital trusts: meaning of “qualifying holding”)....
Taxes Management Act 1970 (c. 9)
245.(1) Amend section 12AB(1) (partnership return to include partnership statement)...
246.In section 12B(4A)(a) (records to be kept for purposes of...
247.(1) Amend section 17 (interest paid or credited by banks...
248.In section 21(5A) (transactions in securities etc) for “Schedule 23A...
249.In section 24(3A) (power to obtain information as to income...
252.(1) Amend section 37A (effect of assessment where allowances transferred)...
258.For section 87 (interest on income tax on company payments)...
261.In section 99A (certificates of non-liability to income tax) for...
262.After section 99A insert— Declarations under Chapter 2 of Part...
263.In section 118(1) (interpretation)— (a) in the definition of “company”...
264.In paragraph 9(2) of Schedule 1A (claims etc not included...
Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7)
Taxation of Chargeable Gains Act 1992 (c. 12)
294.The Taxation of Chargeable Gains Act 1992 is amended as...
297.For section 11 (visiting forces, agents-general etc) substitute— Visiting forces...
298.In section 16(1) (computation of losses) for “section 72 of...
299.In section 37 (consideration chargeable to tax on income) at...
300.In section 39 (exclusion of expenditure by reference to tax...
303.In section 98(2) (power to obtain information for purposes of...
304.In section 101B(1)(a) (transfer of a company's assets to VCT),...
305.In section 101C(7) (transfer within group to VCT), for “section...
306.(1) Amend section 105A (shares acquired on the same day:...
307.In section 108(1)(a) (identification of relevant securities) for “section 710...
308.(1) Amend section 119 (transfer of securities subject to the...
309.After section 125 insert— Share loss relief Effect of share...
310.In section 148C(1) (deemed disposals at a loss under section...
311.(1) Amend section 150A (enterprise investment schemes) as follows.
312.(1) Amend section 150B (enterprise investment scheme: reduction of relief)...
314.In section 151A(7) (venture capital trusts: reliefs) for “the meaning...
315.(1) Amend section 151B (VCTs: supplementary) as follows.
316.After section 151B insert— CITR: identification of securities or shares...
317.After section 151BA insert— CITR: rights issues etc (1) If— (a) an individual or company (“the investor”) holds...
318.After section 151BB insert— CITR: company reconstructions etc (1) If— (a) an individual or company (“the investor”) holds...
319.In section 151C(5) (strips: manipulation of price: associated payment giving...
320.In section 151D(5) (corporate strips: manipulation of price: associated payment...
321.In section 161 (stock in trade: appropriations to and from...
322.In section 169D(1) (gifts to settlor-interested settlements: exceptions) for “691(2)...
323.In section 226B(1) (private residence relief: special cases) for “691(2)...
324.In section 231(1) and (3) (shares: special provision) after “Taxes...
325.In section 241(3)(a) (furnished holiday lettings) for the words from...
327.After section 256 insert— Attributing gains to the non-exempt amount...
328.In section 257 (gifts to charities etc) after subsection (2)...
329.After section 261A insert— Deduction of trading losses or post-cessation...
330.After section 261E insert— Repurchase price under repos Deemed manufactured...
331.After section 261F insert— Price differences under repos: effect on...
332.After section 261G insert— Power to modify section 261G in...
333.(1) Amend section 263ZA (former employees: employment-related liabilities) as follows....
335.(1) Amend section 263D (gains accruing to persons paying manufactured...
336.After section 263E insert— Power to modify repo provisions: non-standard...
337.After section 263F insert— Power to modify repo provisions: redemption...
338.After section 263G insert— Sections 263F and 263G: supplementary provisions...
339.After section 263H insert— Powers about manufactured overseas dividends (1) The Treasury may by regulations make provision as mentioned...
340.(1) Amend section 271 (miscellaneous exemptions) as follows.
341.After section 285 insert— European Economic Interest Groupings (1) The following rules about European Economic Interest Groupings apply...
344.In paragraph 14 of Schedule 4A (deemed disposal of underlying...
345.(1) Amend Schedule 5B (enterprise investment scheme: re-investment) as follows....
346.In paragraph 1(1)(a) of Schedule 5BA (enterprise investment scheme: application...
347.In paragraph 3(1)(f) of Schedule 5C (VCTs: deferred charge on...
348.(1) Amend Schedule 7C (reliefs for transfers to approved share...
349.In Schedule 8 (leases), in paragraph 5(6) for “any amount...
355.Omit section 80 (transitional relief for charities etc).
357.(1) Amend section 176 (ancillary trust funds) as follows.
358.(1) Amend section 180 (underwriting profits to be earned income)...
359.In section 182(1)(ca)(ii) (Lloyd's underwriters: regulations) for the words from...
360.In section 212 (interpretation) at the end insert “ ,...
361.(1) Amend Schedule 20A (Lloyd's underwriters: conversion to limited liability...
366.Omit section 90 (relief for post-cessation expenditure).
367.(1) Amend section 127 (persons not treated as UK representatives)...
368.Omit section 128 (limit on income chargeable on non-residents: income...
369.(1) Amend section 154 (short rotation coppice) as follows.
370.(1) Amend Schedule 22 (prevention of exploitation of Schedule 2...
381.In section 56(4) (transitional provision in connection with section 55...
382.In section 134(5) (transfer of company's assets to VCT) for...
383.In section 135(5) (transfer within group to VCT) for “section...
384.In section 161(2)(a) (non-FOTRA securities) for the words from “sections...
385.(1) Amend Schedule 18 (company tax returns, assessments and related...
390.In section 38(4) (payroll deduction scheme) in the definition of...
391.In section 44 (which makes provision about expenses of trustees)...
392.(1) Amend section 46 (exemption for small trades etc )...
393.In section 155 (interpretation) at the end insert “ and...
394.(1) Amend Schedule 15 (the corporate venturing scheme) as follows....
395.In paragraph 41 of Schedule 22 (tonnage tax: the requirement...
Capital Allowances Act 2001 (c. 2)
398.In section 70V(4) (tax avoidance involving international leasing) for “Chapter...
399.Omit section 70YI(4) (application of section 839 of ICTA).
400.In section 138(2)(b) (limit on amount deferred) for “section 385...
401.In section 156(1)(a) and (c) (connected persons) for “section 839...
402.In section 220(8)(a) (allocation of expenditure to a chargeable period)...
403.In section 232(1)(a) (meaning of connected person) for “section 839...
404.In section 258 (special leasing: income tax) after subsection (3)...
405.In section 266(5)(a) (election where predecessor and successor are connected...
407.In section 437 (research and development allowances) for subsection (2)...
408.In section 479 (persons having qualifying non-trade expenditure: income tax)...
411.For section 575 (connected persons) substitute— Meaning of “connected” persons...
412.In section 577(1) (other definitions)— (a) omit the definition of...
413.(1) Amend Schedule 1 (abbreviations and defined expressions) as follows....
416.In section 142 (interpretation) at the end insert “, and...
417.In paragraph 19 of Schedule 12 (tax relief for expenditure...
418.In paragraph 27 of Schedule 13 (tax relief for expenditure...
419.(1) Amend Schedule 16 (community investment tax relief) as follows....
420.(1) Amend Schedule 18 (relief for community amateur sports clubs)...
Income Tax (Earnings and Pensions) Act 2003 (c. 1)
425.The Income Tax (Earnings and Pensions) Act 2003 is amended...
426.In section 1 (overview of contents of Act) omit subsection...
427.In section 11(3) (calculation of “net taxable earnings”) for “section...
428.In section 24(6)(a) (limit on chargeable overseas earnings where duties...
429.In section 48(2) (scope of Chapter) for “subject to deduction...
430.In section 69(1) (extended meaning of “control”) for “section 840...
431.In section 178 (exception for loans where interest qualifies for...
432.In section 180(5) (threshold for benefit of loan to be...
433.In section 230(5)(a) (the approved amount for mileage allowance payments)...
434.In section 329(6) (deductions from earnings not to exceed earnings)...
435.In section 347(2) (payments made after leaving an employment) for...
436.In section 357(2) after “section 505(1)(e) of ICTA” insert “...
437.After section 404 insert— Amounts charged to be treated as...
438.In section 476 (charge on occurrence of chargeable event) after...
439.(1) Amend section 515 (tax advantages and charges relating to...
440.(1) Amend section 555 (deduction for liabilities related to former...
441.In section 609(1) after “section 273 of ICTA” insert “...
442.In section 718 (connected persons) for “Section 839 of ICTA”...
443.In section 719 (control in relation to a body corporate)—...
445.In Part 1 of Schedule 1 (abbreviations) in the appropriate...
446.(1) Amend Part 2 of Schedule 1 (defined expressions) as...
447.(1) Amend Schedule 2 (approved share incentive plans) as follows....
448.In paragraph 49 of Schedule 3 (approved SAYE Option Schemes)—...
450.(1) Amend Schedule 5 (enterprise management incentives) as follows.
452.Omit section 151 (non-resident companies: extent of charge to income...
453.In section 152 (non-resident companies: transactions carried out through broker,...
454.In section 153(2)(a) (general replacement of references to branch or...
455.In paragraph 1(2) of Schedule 26 (non-resident companies: transactions through...
457.In section 50 (generally accepted accounting practice) for “the Tax...
458.In section 51 (use of different accounting practices within a...
459.In section 59 (construction industry scheme: contractors) after subsection (7)...
460.In section 65 (change in control of company registered for...
461.After section 73 (regulations under this Chapter: supplementary) insert— Designated...
462.(1) Amend section 83 (giving through the self-assessment return) as...
463.Omit sections 101 (payment of royalties without deduction at source)...
464.Omit sections 119 to 123 (individuals benefited by film relief)....
465.Omit sections 126 to 130 (individuals in partnership: exit charge)....
466.In section 155(6)(a) and (b) (persons by whom scheme may...
467.In section 161 (meaning of “payment” etc) for subsection (8)...
469.In section 172A (surrender) for subsection (11) substitute—
470.In section 172B (increase in rights of connected person on...
471.In section 172C (allocation of unallocated employer contributions) for subsection...
472.In section 172D (limit on increase in benefits) for subsection...
473.(1) Amend section 189 (relevant UK individual) as follows.
477.In section 266A (member's liability) for subsection (7) substitute—
478.In section 273 (members liable as scheme administrator) for subsection...
479.In section 278 (market value) for subsection (4) substitute—
481.(1) Amend section 280 (abbreviations and general index) as follows....
482.(1) Amend Schedule 15 (charge to income tax on benefits...
483.In paragraph 4 of Schedule 27 (meaning of “offshore installation”)...
484.In paragraph 4 of Schedule 29A (investment-regulated pension schemes) for...
485.In paragraph 11D of Schedule 36 (transitional provisions) for sub-paragraph...
Income Tax (Trading and Other Income) Act 2005 (c. 5)
492.The Income Tax (Trading and Other Income) Act 2005 is...
494.In section 12(3) (profits of mines etc) for “Chapter 1...
496.In section 17(3) (effect of becoming or ceasing to be...
498.(1) Amend section 52 (exclusion of double relief for interest)...
499.In section 87(5) (expenses of research and development) for “section...
500.In section 108(4) (gifts of trading stock etc to charities)...
501.In section 179(a) (connected persons) for “section 839 of ICTA”...
502.(1) Amend section 232 (treatment of trading adjustment income) as...
504.(1) Amend section 250 (receipts relating to post-cessation expenditure) as...
505.In section 254(3)(b) (allowable deductions) for “section 90(4) of FA...
506.(1) Amend section 256 (treatment of post-cessation receipts) as follows....
507.In section 272(2) (profits of a property business: application of...
508.In section 322(2) (commercial letting of furnished holiday accommodation)—
509.In section 327(2)(b) (capital allowances and loss relief) for “Chapter...
510.(1) Amend section 328 (earned income and relevant UK earnings...
511.In section 333(3) (treatment of property business adjustment income) for...
512.In section 354(2) (other rules about what counts as a...
513.In section 369(4) (charge to tax on interest) for the...
514.In section 372(2) (building society dividends) for the words from...
515.(1) Amend section 397 (tax credits for qualifying distributions: UK...
516.(1) Amend section 399 (qualifying distributions received by persons not...
517.(1) Amend section 400 (non-qualifying distributions) as follows.
518.In section 401 (relief: qualifying distribution after linked non-qualifying distribution)...
519.In section 410(3)(b) (stock dividend income arising to trustees) for...
520.(1) Amend section 414 (stock dividends from UK resident companies:...
521.In section 418(5) (loans to participator in close company: relief...
522.In section 421(4) (loans to participator in close company: income...
523.(1) Amend section 426 (annuity payments received after deduction of...
524.In section 446 (strips of government securities: relief for losses)...
525.In section 454 (listed securities held since 26th March 2003:...
526.(1) Amend section 457 (disposal of deeply discounted securities by...
527.In section 459(2) (profits from deeply discounted securities: transfer of...
528.In section 460(2) (profits from deeply discounted securities: minor definitions)...
529.After section 465 insert— Amounts for which individuals liable to...
531.(1) Amend section 467 (liability of trustees for tax on...
532.In section 468 (gains from contracts for life insurance etc:...
533.In section 482 (excepted group life policies: conditions about persons...
534.In section 520(4) (the property categories) after the definition of...
535.(1) Amend section 530 (income tax treated as paid) as...
539.For section 539 (relief for deficiencies) substitute— Relief for deficiencies...
540.In section 546(4) (table of provisions subject to special rules...
542.For section 550 substitute— Income tax treated as paid In accordance with section 848 of ITA 2007, a sum...
543.In section 567(2) (disposals of futures and options involving guaranteed...
544.In section 569(2) (disposal of futures and options involving guaranteed...
546.(1) Amend section 595 (deduction of tax from payments to...
547.In section 601 (how relief for patent expenses is given)...
548.(1) Amend section 602 (payments received after deduction of tax)...
549.(1) Amend section 618 (payments received after deduction of tax)...
551.After section 619 insert— Income treated as highest part of...
552.In section 620(5) (which contains various definitions) in the definition...
553.In section 624 (income where settlor retains an interest in...
554.In section 627(2) (income where settlor retains an interest: exceptions),...
555.(1) Amend section 628 (exception for gifts to charities) as...
556.In section 631(7) (retained and accumulated income) for “the total...
557.In section 635(3)(d) (settlements: amounts treated as income of settlor:...
558.(1) Amend section 636 (calculation of undistributed income) as follows....
559.In section 640(1) and (3)(a) (settlements: amounts treated as income...
560.After section 646 insert— Trustees' expenses to be rateably apportioned...
561.In section 669(3)(a) (reduction in residuary income: inheritance tax on...
566.After section 680 insert— Income treated as savings income or...
567.In section 682 (assessments, adjustments and claims after the administration...
569.(1) Amend section 685A (discretionary payments under settlor-interested settlements) as...
570.(1) Amend section 686 (payments received after deduction of tax)...
571.In section 704(4)(a) (types of arrangements and providers) for “section...
572.In section 714(6) (exemption of profits from FOTRA securities) for...
574.In section 755(3) (exemption of interest on foreign currency securities...
575.In section 756A(5) (interest on certain deposits of victims of...
576.In section 757 (interest and royalty payments: introduction) at the...
577.In section 767(2) (power to amend references to the Directive...
578.In section 841 (unremittable income: introduction) for subsection (5) substitute—...
579.In section 852(7) (carrying on by partner of notional trade)...
580.In section 863(2) (limited liability partnerships)— (a) in paragraph (a)...
581.In section 871 (apportionment etc of miscellaneous profits to tax...
582.In section 872(3)(a) (losses calculated on same basis as miscellaneous...
583.Omit section 876 (meaning of “farming” and related expressions).
586.In section 879 (interpretation: Scotland)— (a) in subsection (1) omit...
587.In section 885(3)(c) (general index in Schedule 4) for “ICTA...
588.In Schedule 2 (transitionals and savings etc) omit paragraph 50(3)....
589.(1) Amend paragraph 82 of Schedule 2 (transitionals and savings...
590.In paragraph 109(4) of Schedule 2 (transitional provision: contracts in...
591.In Part 1 of Schedule 4 (abbreviations) in the appropriate...
594.In section 26 (amount of relief for trustees of property...
595.(1) Amend section 27 (tax liability of trustees of property...
596.In section 41(1) (interpretation of Chapter 4 of Part 2)...
597.(1) Amend section 47A (alternative finance arrangements: diminishing share ownership)...
598.In section 51(2) (treatment of alternative finance arrangements)—
599.(1) Amend section 52 (alternative finance arrangements: provision not at...
600.Omit sections 74 to 78 (partners: recovery of excess relief)....
601.In section 105 (interpretation) after the definition of “IHTA 1984”...
602.(1) Amend Schedule 2 (alternative finance arrangements: further provisions) as...
Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1))
611.In section 34 (meaning of certain expressions for the purposes...
612.In section 65(3) (London Organising Committee) for “Section 349(1) of...
613.In section 67 (International Olympic Committee)— (a) in subsection (1)(c),...
614.In section 68(1)(d) (competitors and staff) for “section 349(1) of...
615.Omit section 75 (tax avoidance: interest relief and film partnerships)....
616.In section 103(1)(b) (Real Estate Investment Trusts) for “, 121...
618.In section 117(4) (cancellation of tax advantage) for “section 709”...
619.In section 121(2)(c) (distributions: liability to tax) for “chargeable to...
621.(1) Amend section 139 (manufactured dividends) as follows.
622.In section 179 (interpretation) after the definition of “IHTA 1984”...
623.In Schedule 5 (film tax relief: further provisions) in paragraph...
624.In paragraph 27(1) of Schedule 8 (long funding leases of...
626.(1) Amend Schedule 17 (Group Real Estate Investment Trusts: modifications)...
Part 3 Amendment having effect in relation to shares issued after 5 April 2007
Part 5 Losses (except losses on disposal of shares)
Sideways relief: trade leasing allowances given to individuals
Post-cessation trade loss relief and post-cessation property relief
Reliefs for limited partners not to exceed contribution to the firm
Reliefs for members of LLPs not to exceed contribution to the LLP
Reliefs for non-active partners not to exceed contribution to the firm
Restriction on reliefs for non-active partners: pre-10 February 2004 events
Application of existing regulations under sections 114 and 802
Conditions relating to qualifying holdings and eligible shares: supplementary
Ceasing to meet the requirement because of administration or receivership
The relevant company to carry on the relevant qualifying activity requirement
Excluded activities: provision of services or facilities for another business
Meaning of “company”, “shares” and “research and development” in Part 6
Transactions in securities: meaning of relevant companies for the purposes of sections 689 and 690
Transfers of assets abroad: whether trustees are “persons abroad”
Transfers of assets abroad: whether personal representatives are “persons abroad”
Transfers of assets abroad: income arising before 26 November 1996
Part 15 Deduction of income tax at source
Deduction by deposit-takers: discretionary or accumulation settlements
Deduction by deposit-takers and building societies: declarations of non-UK residence
Deduction by deposit-takers: qualifying certificates of deposit
Deduction by deposit-takers and building societies: saving for regulations
Deduction by deposit-takers, building societies etc: collection of tax
Deduction from certain payments of yearly interest: interest paid by banks
Deduction from certain payments of yearly interest: interest paid on advances from banks
Unauthorised unit trusts: calculation of trustees' income pool
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