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PART 3 Economic crime (anti-money laundering) levy
SCHEDULES
PART 2 Other amendments of ITTOIA 2005
11.In section 47 (business gifts: exceptions), in subsection (3)(b), for...
12.In section 133 (meaning of “relevant period” for purposes of...
13.(1) Section 154A (certain non-UK residents with interest on 3.5%...
14.(1) Section 225ZD (compensation for compulsory slaughter of animals: effect...
15.In section 240B (“entering the cash basis”), in paragraph (b),...
16.In section 240C (unrelieved qualifying expenditure: Parts 2, 7 and...
17.In section 240D (assets not fully paid for), in subsection...
18.In section 240E (effect of election where predecessor and successor...
19.In section 246 (basic meaning of “post-cessation receipt”), in subsection...
21.Part 6A (income charged under ITTOIA 2005: trading and property allowances)
23.(1) Section 805 (meaning of “qualifying care receipts”) is amended...
26.In section 857 (partners to whom the remittance basis applies),...
27.In section 860 (adjustment income), in subsection (7), for “856”...
PART 3 Amendments of other Acts
31.In section 8 (personal return), in subsection (1C), omit “or...
32.In Schedule A1 (as inserted by section 60(3) of F(No.2)A...
34.(1) Section 59 (unrelieved qualifying expenditure) is amended as follows....
35.In section 419A (unrelieved qualifying expenditure: entry to cash basis),...
36.In section 461A (unrelieved qualifying expenditure: entry to cash basis),...
37.In section 475A (unrelieved qualifying expenditure: entry to cash basis),...
39.In section 24A (limit on Step 2 deductions), omit subsection...
40.In section 60 (overview of Chapter), in subsection (3), omit...
42.(1) Section 66 (restriction on relief unless trade is commercial)...
43.(1) Section 70 (determining losses in previous tax years) is...
44.In section 74 (restrictions on relief unless trade is commercial...
45.(1) Section 74C (meaning of “non-active capacity” for purposes of...
46.(1) Section 75 (trade leasing allowances given to individuals) is...
47.In section 83 (carry forward against subsequent trade profits), in...
48.(1) Section 90 (losses that are “terminal losses”) is amended...
49.(1) Section 103B (meaning of “non-active partner” etc) is amended...
50.In section 104 (restriction on reliefs for limited partners), in...
51.In section 107 (restriction on reliefs for members of LLPs),...
52.In section 110 (restriction on reliefs for non-active partners in...
53.In section 113 (unrelieved losses brought forward), in subsection (7),...
54.(1) Section 525 (meaning of “charitable trade”) is amended as...
55.In section 528 (condition as to trading and miscellaneous incoming...
56.In section 544 (section 543: supplementary), omit subsection (4).
57.In section 681AD (relevant income tax relief: deduction not to...
58.In section 681CC (tax deduction not to exceed commercial rent),...
59.(1) Section 795 (meaning of “post-1 December 2004 loss”) is...
PART 6 Transitional provision: continuing trades etc
68.Deductions for overlap profit allowed under this Part of this Schedule
69.Trade profits if there is no transition part of the basis period for the tax year 2023-24
70.Trade profits if there is a transition part of the basis period for the tax year 2023-24
71.Treatment of losses arising from deduction for overlap profit
74.Transition profits ignored in averaging of profits of farmers and creative artists
75.Calculation of income tax liability on amount of transition profits
Qualifying asset holding companies
PART 5 Close companies, exchange gains and basis of accounting
PART 6 Transfer pricing and corporate interest restriction rules
40.Transfer pricing: participation condition always met for investors in a QAHC etc
41.Transfer pricing: no small and medium-sized enterprise exemption
42.Application of corporate interest restriction rules (non-consolidation of certain subsidiaries)
43.Application of corporate interest restriction rules (consolidation of QAHC stacks)
PART 11 Exemption from section 874 of ITA 2007 (withholding tax)
Insurance contracts: change in accounting standards
3.Amendments to the Income Tax (Deposit-takers and Building Societies) (Interest Payments) Regulations 2008 (S.I. 2008/2682)
4.Exemption for reclaim amounts in respect of individual investment plans
5.Power to make provision for the purposes of the Income Tax Acts and TCGA 1992 in relation to dormant assets
1.Residential property developer tax to be ignored for corporation tax purposes
2.Payments made for RPDT reliefs to be ignored for corporation tax purposes
3.Provision made or imposed between RPD activities and other activities of the same company
4.Provision made or imposed between an RP developer and another person under the same control
Public interest business protection tax
8.Requirement to file return and pay tax chargeable under paragraph 1
9.Notice to file return in respect of joint and several liability under paragraph 4 or 5
16.Amendment of return during enquiry by HMRC to prevent loss of tax
17.Date by which payment to be made after amendment or correction of self-assessment
28.Failure to pay public interest business protection tax on time
30.Application of information, inspection and data-gathering powers
32.Disclosures to persons who are joint and severally liable to tax
33.Application of public interest business protection tax to partnerships and trusts
Penalties for facilitating avoidance schemes involving non-resident promoters
Freeport tax site reliefs: provision about regulations
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