The Income and Corporation Taxes Act 1988, Section 349B(3) Order 2002

Made27th November 2002

Laid before the House of Commons27th November 2002

Coming into force1st December 2002

The Treasury, in exercise of the powers conferred upon them by section 349B(8) of the Income and Corporation Taxes Act 1988 (“the Taxes Act”)1 hereby make the following Order:

1.

This Order may be cited as the Income and Corporation Taxes Act 1988, Section 349B(3) Order 2002, and shall come into force on 1st December 2002.

2.

In section 349B(3) of the Taxes Act after “made to” insert “, or to the nominee of”.

Nick Ainger

Jim Fitzpatrick

Two of the Lords Commissioners of Her Majesty’s Treasury

27th November 2002

(This note is not part of the Order)

This Order amends the provisions of section 349B(3) of the Income and Corporation Taxes Act 1988 (c. 1). Section 349A provides that a company or local authority may make certain payments gross (that is, without deduction of tax) if it reasonably believes one of the conditions in section 349B to be satisfied. The effect of the Order is to widen the condition in section 349B(3), to cover payments to a nominee of certain U.K. tax-exempt bodies.