http://www.legislation.gov.uk/ukpga/2008/9/section/66Finance Act 2008An 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 Database2026-04-20Expert Participation2026-04-01 Finance Act 2008Blanket amendmentThe Treaty of Lisbon (Changes in Terminology) Order 2011art. 3 4art. 3(2)art. 3(3) 4(2) 6(4)(5)art. 2Finance Act 2008Sch. 41 para. 6(1A)Finance Act 2015Sch. 20 para. 10(2)s. 120(2)Finance Act 2008Sch. 41 para. 6A(A1)(1)Finance Act 2015Sch. 20 para. 11(2)s. 120(2) Part 2 661In Part 17 of ICTA (tax avoidance)—ain section 704 (cancellation of corporation tax advantages: the prescribed circumstances), omit—iparagraph B (and the “OR” after it), andiiin paragraph C(1), paragraph (b) (and the “or” before it),bin section 709 (definitions), omit subsection (2A),comit sections 731 to 735 (purchase and sale of securities), anddomit section 736 (company dealing in securities: distribution materially reducing value of holding).2In Part 13 of ITA 2007 (tax avoidance)—ain section 684(2) (person liable to counteraction of income tax advantage), omit the entry relating to section 687 of that Act,bomit section 687 (deductions from profits obtained following distribution or dealings), andcin section 688 (receipt of consideration representing company's assets, future receipts or trading stock), omit—iin subsection (3), paragraph (b) (and the “or” before it), andiisubsections (4), (5) and (9).3In consequence of the amendments made by subsection (1)(a) and (b), omit—ain FA 1997, section 73, andbin ITA 2007, paragraph 155(4) and (5) and (6)(b) of Schedule 1.4In consequence of the amendments made by subsection (1)(c) and (d), omit—ain ICTA, sections 343(5) and 738,bin FA 1990, section 53,cin FA 1991, sections 55 and 56,din TCGA 1992, paragraph 14(40) and (41) of Schedule 10,ein FA 1994, paragraph 17 of Schedule 16,fin FA 1995, section 81,gin FA 1996—iparagraph 36 of Schedule 20, andiiparagraph 9 of Schedule 38,hin FA 1997, section 77,iin F(No.2)A 1997—isection 26, andiiparagraph 14 of Schedule 6,jin FA 2003, paragraph 6 of Schedule 38,kin ITTOIA 2005, paragraphs 302 and 303 of Schedule 1,lin ITA 2007—iin section 64(8), paragraph (f) (and the “and” before it),iiin section 72(5), paragraph (f) (and the “and” before it),iiiin section 448(3), “and section 451”,ivin section 449(3), “and section 451”,vsection 451,viin section 505, in subsection (4) “and section 506” and, in subsection (5) “and in section 506”,viisection 506, andviiiparagraphs 167 to 170 of Schedule 1, andmin FA 2007, paragraph 6 of Schedule 14.5The amendments made by subsections (1)(a) and (b), (2) and (3) have effect in relation to transactions in securities entered into on or after 1 April 2008.6The amendment made by subsection (1)(c) has effect in relation to cases where the purchase by the first buyer (within the meaning of section 731(2) of ICTA) is made on or after that date.7The amendment made by subsection (1)(d) has effect in relation to distributions made on or after that date.8The amendments made by subsection (4) have effect in accordance with subsections (6) and (7).