SCHEDULES
SCHEDULE 39Repeal of miscellaneous reliefs etc
PART 7Miscellaneous
Deeply discounted securities: incidental expenses
48
1
In section 455 of ITTOIA 2005 (listed securities held since 26 March 2003: calculating the profit or loss on disposals)—
a
in subsection (1), after “incurred” insert “
before 6 April 2015
”
, and
b
in subsection (3)(b), after “incurred” insert “
before 6 April 2015
”
.
2
The amendments made by this paragraph have effect for the tax year 2015-16 and subsequent tax years.
Grants for giving up agricultural land
49
1
Section 249 of TCGA 1992 (grants for giving up agricultural land) is repealed.
2
Accordingly, the italic heading before that section becomes “
Woodlands
”
.
3
The amendments made by this paragraph have effect in relation to disposals made on or after 6 April 2013.
Reduction for meal vouchers
50
1
Section 89 of ITEPA 2003 (reduction for meal vouchers) is repealed.
2
Accordingly, in that Act—
a
in section 87 (benefit of non-cash voucher treated as earnings), omit subsection (6), and
b
in Schedule 7 (transitionals and savings), omit paragraph 18.
3
The amendments made by this paragraph have effect for the tax year 2013-14 and subsequent tax years.
Black beer
51
1
ALDA 1979 is amended as follows.
2
In section 1 (alcoholic liquors dutiable under ALDA 1979)—
a
in subsection (3), omit from “, but” to the end of the subsection, and
b
in subsection (5), omit “black beer,”.
3
In section 4(1) (interpretation), omit the definition of “black beer”.
4
In section 55(5)(b) (made-wine: exception to requirement for excise licence), omit “or black beer”.
5
The amendments made by sub-paragraphs (2) and (3) come into force on 1 April 2013.
6
The amendment made by sub-paragraph (4) has effect in relation to the use on or after 1 April 2013 of ingredients that include black beer.
Angostura bitters
52
1
In ALDA 1979, omit—
a
section 1(7) (angostura bitters deemed not to be spirits), and
b
section 6 (power to exempt angostura bitters from duty).
2
In Schedule 5 to FA 1994 (decisions subject to review and appeal), omit paragraph 3(1)(a).
3
The amendments made by this paragraph come into force on 1 April 2013.
Tax reserve certificates
53
1
The following provisions are repealed—
a
section 750 of ITTOIA 2005 (interest from tax reserve certificates);
b
section 1283 of CTA 2009 (interest from tax reserve certificates).
2
In consequence of the provision made by sub-paragraph (1), in section 369 of ITTOIA 2005 (charge to tax on interest), in subsection (3)(e), omit “tax reserve certificates,”.
3
The repeals made by sub-paragraphs (1)(a) and (2) have effect in relation to tax reserve certificates redeemed on or after 6 April 2013.
4
The repeal made by sub-paragraph (1)(b) has effect in relation to tax reserve certificates redeemed on or after 1 April 2013.
Tax assessors
54
1
Section 62(2) and (3) of FA 1946 (compensation for former land tax assessors and income tax assessors, etc) is repealed.
2
In consequence of the provision made by sub-paragraph (1), in Schedule 2 to the Pensions (Increase) Act 1971 (official pensions), in paragraph 34, omit “or section 62 of the Finance Act 1946”.
3
The amendments made by this paragraph come into force on 6 April 2013.