2.—(1) The Taxes Management Act 1970(1) is amended as follows.
(2) In the italic cross-heading before section 12A, at the beginning insert “UK Economic Interest Groupings(2) and”.
(3) In section 12A(3)—
(a)in the heading, at the beginning insert “UK Economic Interest Groupings and”;
(b)for subsection (1) substitute—
“(1) In this section “grouping” means—
(a)a UK Economic Interest Grouping, or
(b)a grouping registered in a member State and formed in pursuance of Council Regulation (EEC) No. 2137/85 of 25 July 1985 on the European Economic Interest Grouping(4) as it has effect in EU law (a “European Economic Interest Grouping”).”;
(c)in subsection (3) for “grouping which is registered in Great Britain or Northern Ireland or” substitute “UK Economic Interest Grouping, or a European Economic Interest Grouping that”;
(d)in subsection (8) omit “in accordance with the Council Regulation”;
(e)after subsection (9) insert—
“(10) The reference in subsection (8) to the individual or individuals designated as the representative of the manager is a reference—
(a)in the case of a UK Economic Interest Grouping, to the individual or individuals designated in accordance with regulation 5(1) of the European Economic Interest Grouping Regulations 1989(5), and
(b)in the case of a European Economic Interest Grouping, to the individual or individuals designated in accordance with Council Regulation (EEC) No. 2137/85 of 25 July 1985 on the European Economic Interest Grouping as it has effect in EU law.”.
(4) In section 98B(6)—
(a)in the heading, at the beginning insert “UK Economic Interest Groupings and”;
(b)for subsection (1) substitute—
“(1) In this section “grouping” means—
(a)a UK Economic Interest Grouping, or
(b)a grouping registered in a member State and formed in pursuance of Council Regulation (EEC) No. 2137/85 of 25 July 1985 on the European Economic Interest Grouping as it has effect in EU law.” .
Commencement Information
3.—(1) The Inheritance Tax Act 1984(7) is amended as follows.
(2) In section 59(3)(b)(8) for the words from “is” to the end substitute—
“—
(i)is an insurance company (within the meaning of Part 2 of the Finance Act 2012)(9), and
(ii)has permission under Part 4A of the Financial Services and Markets Act 2000(10) to effect or carry out contracts of long-term insurance.”.
(3) In section 115(5)(b)(11) omit “, other than the United Kingdom,”.
(4) In section 125(1A)(12) for “another” substitute “is in a”.
Commencement Information
4.—(1) Part 4 of the Finance Act 1986(13) (stamp duty reserve tax) is amended as follows.
(2) In section 99(14)—
(a)in subsection (4)(d)—
(i)for “an SE” substitute “a UK Societas(15)”;
(ii)omit the words from “and, at the time” to the end;
(b)in subsection (4A) omit paragraph (b) and the “and” at the end of paragraph (a).
Commencement Information
5.—(1) Part 4 of the Finance Act 1991(16) (stamp duty and stamp duty reserve tax) is amended as follows.
(2) In section 116(17)—
(a)in subsection (4)—
(i)omit paragraph (aa);
(ii)for sub-paragraph (i) of paragraph (b) substitute—
“(i)a UK regulated market (within the meaning given by Article 2.1(13A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments)(18);
(ia)a UK multilateral trading facility (within the meaning given by Article 2.1(14A) of that Regulation);
(ib)an EU regulated market (within the meaning given by Article 2.1(13B) of that Regulation);
(ic)an EU multilateral trading facility (within the meaning given by Article 2.1 (14B) of that Regulation);
(id)a regulated market (within the meaning given by Article 2.1(13) of that Regulation) which is authorised and functions regularly and in accordance with Part 3 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar(19);
(ie)a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments (in the system and in accordance with non-discretionary rules) in a way which results in a contract in accordance with Part 2 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar;”;
(b)after subsection (4) insert—
“(5) In subsection (4)(ie) “multilateral system”, “investment firm”, “market operator” and “financial instrument” have the meanings given by Articles 2.1(11), 2.1A, 2.1(10) and 2.1(9) respectively of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments.”.
Commencement Information
6.—(1) The Taxation of Chargeable Gains Act 1992(20) is amended as follows.
(2) In section 140A(21)—
(a)in subsections (1) and (1A) for “member State”, in each place where the expression occurs, substitute “relevant state”;
(b)in subsection (1C) for “another” substitute “a”.
(3) In section 140C(22)—
(a)in subsection (1)(a)—
(i)for “another” substitute “a”;
(ii)omit “other than the United Kingdom”;
(b)in subsection (1A) omit “other than the United Kingdom”, in both places where the expression occurs;
(c)in subsection (1C) for “another” substitute “a”.
(4) In section 140DA(1)(23)—
(a)in paragraph (b) for “member State” substitute “relevant state”;
(b)in paragraph (c) for “State” substitute “relevant state”.
(5) In section 140E(24)—
(a)in subsection (2)—
(i)in paragraph (a) for “member State” substitute “relevant state”;
(ii)in paragraph (b) for “State” substitute “relevant state”;
(iii)in paragraph (d)(ii) for “another” substitute “a”;
(b)in subsection (9)(a) omit “other than the United Kingdom”.
(6) In section 140F(2)(25)—
(a)in paragraph (a) for “member State” substitute “relevant state”;
(b)in paragraph (b) for “State” substitute “relevant state”;
(c)in paragraph (c)—
(i)for “another” substitute “a”;
(ii)omit “other than the United Kingdom”;
(d)in paragraph (e)(ii) for “another” substitute “a”.
(7) In section 140G(2)(26)—
(a)in paragraph (a) for “member State” substitute “relevant state”;
(b)in paragraph (b) for “State” substitute “relevant state”.
(8) In section 140GA(27)—
(a)in paragraph (b) for “member State” substitute “relevant state”;
(b)in paragraph (c) for “State” substitute “relevant state”.
(9) In section 140H(3)(28) omit “other than the United Kingdom”.
(10) In section 140I(3) omit “other than the United Kingdom”.
(11) In section 140J(3) omit “other than the United Kingdom”.
(12) In section 140L(29)—
(a)in subsection (1)—
(i)at the end of paragraph (b) (but before the “and”) insert—
“(ba)“relevant state” means the United Kingdom or a member State,”;
(ii)in paragraph (c) omit “other than the United Kingdom”;
(b)for subsection (2) substitute—
“(2) For the purposes of those sections and subsection (1) above, a company is resident in a relevant state if—
(a)it is within a charge to tax under the law of the relevant state as being resident for that purpose, and
(b)it is not regarded, for the purposes of any double taxation relief arrangements to which the relevant state is a party, as resident in a territory not within a relevant state.”.
(13) In section 151N(30)—
(a)in subsection (1)(h) for “an EEA-regulated” substitute “a regulated”;
(b)in subsection (2)—
(i)at the end of paragraph (h) insert “and”;
(ii)omit paragraphs (j) and (k);
(c)after subsection (2) insert—
“(2A) In subsection (1)—
“regulated recognised stock exchange” means a recognised stock exchange that is regulated in the United Kingdom, the European Economic Area or Gibraltar;
“multilateral trading facility” means—
a UK multilateral trading facility within the meaning given by Article 2.1(14A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,
an EU multilateral trading facility within the meaning given by Article 2.1(14B) of that Regulation, and
a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments (in the system and in accordance with non-discretionary rules) in a way which results in a contract in accordance with Part 2 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar,
and in paragraph (c) “multilateral system”, “investment firm”, “market operator” and “financial instrument” have the same meanings as given by Articles 2.1(11), 2.1A, 2.1(10) and 2.1(9) respectively of that Regulation.”.
(14) In section 241A(1) and (6)(31) omit “other than the United Kingdom”.
(15) In section 285A(32)—
(a)in the heading, at the beginning insert “UK Economic Interest Groupings(33)”;
(b)in subsection (1) after “rules about” insert “UK Economic Interest Groupings and”;
(c)for subsection (5) substitute—
“(5) “European Economic Interest Grouping” means a grouping registered in a member State and formed in pursuance of Council Regulation (EEC) No. 2137/85 of 25 July 1985 on the European Economic Interest Grouping(34) as it has effect in EU law.”.
Commencement Information
7.—(1) Part 4 of the Finance Act 1997(35) (indirect taxes: overpayments etc.) is amended by paragraph (3) and Part 7 of that Act (stamp duty and stamp duty reserve tax) is amended by paragraph (2).
(2) In section 96(8)(36) in the definition of “general insurance company” omit the words from “or under paragraph 15” to “that Schedule)”.
(3) In Schedule 5, in paragraph 2(4)(a)(37) for “, subordinate legislation or EU legislation” substitute “or subordinate legislation”.
Commencement Information
8.—(1) Part 3 of the Finance Act 1998(38) (corporation tax) is amended as follows.
(2) In Schedule 18—
(a)in the heading to paragraph 91, at the beginning insert “UK Economic Interest Groupings and”;
(b)in paragraph 91 before “European Economic Interest Groupings” insert “UK Economic Interest Groupings and”.
Commencement Information
9.—(1) Part 6 of the Finance Act 1999(39) (stamp duty) is amended as follows.
(2) In Schedule 15, in paragraph 11, in the definition of “UK company” for paragraph (b) substitute—
“(b)a UK Societas(40);”.
Commencement Information
10.—(1) The Capital Allowances Act 2001(41) is amended as follows.
(2) In section 51G(7)(42), in the definition of “NACE classification” for the words “from time to time” substitute “in EU law”.
(3) In section 266(8) for “transfer of UK trade to a company in another member State” substitute “transfer or division of UK business”.
(4) In section 560(3) for “transfer of a UK trade to a company in another member State” substitute “transfer or division of UK business”.
(5) In section 561(43)—
(a)in subsection (1)(a)—
(i)for “member State” substitute “relevant state”;
(ii)for “member States” substitute “relevant states”;
(b)in subsection (4) for “member State” substitute “relevant state”;
(c)after subsection (4) insert—
“(4A) In this section “relevant state” means the United Kingdom or a member State.”.
(6) In section 564(4) for “transfer of a UK trade to a company in another member State” substitute “transfer or division of UK business”.
(7) In section 567(5) for “transfer of a UK trade to a company in another member State” substitute “transfer or division of UK business”.
(8) In section 573(4) for “transfer of a UK trade to a company resident in another member State” substitute “transfer or division of UK business”.
Commencement Information
11.—(1) Part 4 of the Finance Act 2003(44) (stamp duty land tax) is amended as follows.
(2) In section 63(7)(45), in the definition of “general insurance company”, omit the words from “, or paragraph 15” to “that Schedule),”.
(3) In section 102A(7)(46)—
(a)in paragraph (a) omit “other than the United Kingdom”;
(b)in paragraph (b) after “of” insert “any part of the United Kingdom or of”.
(4) In Schedule 7A(47), in paragraph 2(5)(a) omit “other than the United Kingdom”.
Commencement Information
12.—(1) Part 4 of the Finance Act 2004(48) (pensions) is amended as follows.
(2) In section 244C(49)—
(a)in the heading for “member and receiving scheme in EEA states” substitute “receiving scheme in EEA state, and member resident in UK or EEA state”;
(b)in subsections (2) to (5) for “an EEA state”, in each place where the expression occurs, substitute “a relevant territory”;
(c)in subsections (2) and (4) for “same EEA state” substitute “same relevant territory”;
(d)after subsection (5) insert—
“(6) In this section “relevant territory” means the United Kingdom or an EEA state.”;
(3) In section 275(1)—
(a)omit “, or” at the end of paragraph (a);
(b)omit paragraph (b).
Commencement Information
13.—(1) The Income Tax (Trading and Other Income) Act 2005(50) is amended as follows.
(2) In section 326(7)(51) omit “other than the United Kingdom”.
(3) For section 381E(3)(52) substitute—
“(3) In subsection (2) “regulated market” means—
(a)a UK regulated market within the meaning given by Article 2.1(13A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,
(b)an EU regulated market within the meaning given by Article 2.1(13B) of that Regulation, and
(c)a regulated market within the meaning given by Article 2.1(13) of that Regulation which is authorised and functions regularly and in accordance with Part 3 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar.”.
(4) In section 697(2) omit paragraphs (a) and (b).
(5) In section 704—
(a)in subsection (3)—
(i)at the end of paragraph (a) insert “or”;
(ii)omit “, or” at the end of paragraph (b);
(iii)omit paragraph (c);
(b)omit subsection (6).
Commencement Information
14.—(1) Part 9 of the Finance Act 2006(53) (international tax enforcement arrangements) is amended as follows.
(2) For section 173(4) and (5) substitute—
“(4) Where any arrangements have effect by virtue of this section, no obligation of secrecy (whether imposed by statute or otherwise) prevents a public authority or anyone acting on its behalf from making a disclosure to the Commissioners for Her Majesty’s Revenue and Customs —
(a)for the purpose of giving effect, or enabling effect to be given, to the arrangements, or
(b)which is authorised in accordance with the arrangements.
(4A) Where any arrangements have effect by virtue of this section, no obligation of secrecy (whether imposed by statute or otherwise) prevents the Commissioners for Her Majesty’s Revenue and Customs or any other authorised Revenue and Customs official from making a disclosure to a person outside the United Kingdom—
(a)for the purpose of giving effect, or enabling effect to be given, to the arrangements, or
(b)which is authorised in accordance with the arrangements.
(5) But information may not be disclosed by virtue of subsection (4A) unless the person making the disclosure is satisfied that the recipient of the information—
(a)will only use the information in a manner consistent with the purposes of the arrangements, and
(b)is bound by, or has undertaken to observe, rules of confidentiality with respect to the information which are not less strict than those applying to it in the United Kingdom.”.
Commencement Information
15.—(1) The Income Tax Act 2007(54) is amended as follows.
(2) For section 274(4)(55) substitute—
“(4) In this section “regulated market” means—
(a)a UK regulated market within the meaning given by Article 2.1(13A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,
(b)an EU regulated market within the meaning given by Article 2.1(13B) of that Regulation, and
(c)a regulated market within the meaning given by Article 2.1(13) of that Regulation which is authorised and functions regularly and in accordance with Part 3 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar.”.
(3) In section 392(4)(56), in paragraph (a) of the definition of “close company” omit “other than the United Kingdom”.
(4) In section 393A(7)(57), in paragraph (a) of the definition of “close company” omit “other than the United Kingdom”.
(5) In section 397(2)(a)(58) for “another” substitute “an”.
(6) In section 559(1)(a) after “by” insert “Her Majesty’s Government in the United Kingdom or by”.
(7) In section 564G(59)—
(a)in subsection (1)(h) for “an EEA-regulated” substitute “a regulated”;
(b)in subsection (2)—
(i)at the end of paragraph (h) insert “and”;
(ii)omit paragraphs (j) and (k);
(c)after subsection (2) insert—
“(2A) In subsection (1)—
“regulated recognised stock exchange” means a recognised stock exchange that is regulated in the United Kingdom, the European Economic Area or Gibraltar;
“multilateral trading facility” means—
a UK multilateral trading facility within the meaning given by Article 2.1(14A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,
an EU multilateral trading facility within the meaning given by Article 2.1(14B) of that Regulation, and
a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments (in the system and in accordance with non-discretionary rules) in a way which results in a contract in accordance with Part 2 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar,
and in paragraph (c) “multilateral system”, “investment firm”, “market operator” and “financial instrument” have the same meanings as given by Articles 2.1(11), 2.1A, 2.1(10) and 2.1(9) respectively of that Regulation.”.
(8) In section 837B(60)—
(a)in subsection (2)—
(i)omit “, or” at the end of paragraph (a);
(ii)omit paragraph (b);
(b)omit subsection (6).
(9) In section 842—
(a)in the heading, at the beginning insert “UK Economic Interest Groupings(61) and”;
(b)in subsection (1) after “rules about” insert “UK Economic Interest Groupings and”;
(c)for subsection (5) substitute—
“(5) “European Economic Interest Grouping” means a grouping registered in a member State and formed in pursuance of Council Regulation (EEC) No. 2137/85 of 25 July 1985 on the European Economic Interest Grouping(62) as it has effect in EU law.”.
(10) In section 853 omit subsection (5).
(11) In section 987(63)—
(a)in subsection (1)(b) for “an EEA-regulated” substitute “a regulated”;
(b)for subsection (2) substitute—
“(2) For the purposes of this section—
(a)“regulated recognised stock exchange” means a recognised stock exchange that is regulated in the United Kingdom, the European Economic Area or Gibraltar, and
(b)“multilateral trading facility” means—
(i)a UK multilateral trading facility within the meaning given by Article 2.1(14A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,
(ii)an EU multilateral trading facility within the meaning given by Article 2.1(14B) of that Regulation, and
(iii)a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments (in the system and in accordance with non-discretionary rules) in a way which results in a contract in accordance with Part 2 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar(64),
and in sub-paragraph (iii) “multilateral system”, “investment firm”, “market operator” and “financial instrument” have the same meanings as given by Articles 2.1(11), 2.1A, 2.1(10) and 2.1(9) respectively of that Regulation.”.
(12) In section 991(2) omit paragraph (c).
Commencement Information
16.—(1) The Corporation Tax Act 2009(65) is amended as follows.
(2) In section 133I(1)(66) omit paragraphs (b) and (c).
(3) In section 268(7)(67) omit “other than the United Kingdom”.
(4) In section 421—
(a)in subsections (3), (4) and (7) for “member State”, in each place where the expression occurs, substitute “relevant state”;
(b)in subsection (5)(b) omit “other than the United Kingdom”;
(c)in subsection (6) before the first definition insert—
““relevant state” means the United Kingdom or a member State;”.
(5) In section 429—
(a)in subsection (3) omit “other than the United Kingdom”;
(b)in subsection (4) for “member State” substitute “relevant state”.
(6) In section 430(2)—
(a)for “member State”, in both places where the expression occurs, substitute “relevant state”;
(b)for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.
(7) In section 431—
(a)in subsection (4) for “member State” substitute “relevant state”;
(b)in subsection (5) for “State” substitute “relevant state”;
(c)in subsection (7)(b) for “another” substitute “a”;
(d)in subsection (9)(a)—
(i)for “another” substitute “a”;
(ii)omit “other than the United Kingdom”;
(e)in subsection (10)—
(i)the words from ““the merger”” to the end become paragraph (a) of that subsection;
(ii)after that paragraph insert—
“(b)“relevant state” means the United Kingdom or a member State.”;
(f)in subsection (11)(b) for “member State” substitute “relevant state”.
(8) In section 438(4), in the definition of “transparent entity” omit “other than the United Kingdom”.
(9) In section 439(68)—
(a)in subsection (1), in the definition of “co-operative society” omit “other than the United Kingdom”;
(b)in subsection (2)—
(i)for “member State”, in both places where the expression occurs, substitute “relevant state”;
(ii)for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.
(10) In section 507(69)—
(a)in subsection (1)(h) for “an EEA-regulated” substitute “a regulated”;
(b)in subsection (2)—
(i)at the end of paragraph (h) insert “and”;
(ii)omit paragraphs (j) and (k);
(c)after subsection (2) insert—
“(2A) In subsection (1)—
“regulated recognised stock exchange” means a recognised stock exchange that is regulated in the United Kingdom, the European Economic Area or Gibraltar;
“multilateral trading facility” means—
a UK multilateral trading facility within the meaning given by Article 2.1(14A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,
an EU multilateral trading facility within the meaning given by Article 2.1(14B) of that Regulation, and
a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments (in the system and in accordance with non-discretionary rules) in a way which results in a contract in accordance with Part 2 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar,
and in paragraph (c) “multilateral system”, “investment firm”, “market operator” and “financial instrument” have the same meanings as given by Articles 2.1(11), 2.1A, 2.1(10) and 2.1(9) respectively of that Regulation.”.
(11) In section 674—
(a)in subsections (2), (3)(b) and (d) and (5) for “member State”, in each place where the expression occurs, substitute “relevant state”;
(b)in subsection (3)(g)(ii) for “another” substitute “a”;
(c)in subsection (4) before the first definition insert—
““relevant state” means the United Kingdom or a member State;”.
(12) In section 680(2) omit “other than the United Kingdom”.
(13) In section 681(2)—
(a)for “member State”, in both places where the expression occurs, substitute “relevant state”;
(b)for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.
(14) In section 682—
(a)in subsection (3) for “member State” substitute “relevant state”;
(b)in subsection (4) for “State” substitute “relevant state”;
(c)in subsection (6)(b) for “another” substitute “a”;
(d)in subsection (8)—
(i)the words from ““the merger”” to the end become paragraph (a) of that subsection;
(ii)after that paragraph insert—
“(b)“relevant state” means the United Kingdom or a member State.”;
(e)in subsection (9)(b) for “member State” substitute “relevant state”.
(15) In section 687(3) omit “other than the United Kingdom”.
(16) In section 688(70)—
(a)in subsection (1), in the definition of “co-operative society” omit “other than the United Kingdom”;
(b)in subsection (2)—
(i)for “member State”, in both places where the expression occurs, substitute “relevant state”;
(ii)for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.
(17) In section 819—
(a)in subsections (2) and (3) for “an EU company”, in each place where the expression occurs, substitute “a relevant company”;
(b)in subsections (2) to (4) for “member State”, in each place where the expression occurs, substitute “relevant state”;
(c)in subsection (3)(a) for “EU companies” substitute “relevant companies”;
(d)in subsection (3)(f)(ii) for “another” substitute “a”;
(e)in subsection (4) for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”;
(f)for subsection (5)(b) substitute—
“(ba)“relevant company” means a body incorporated under the law of a relevant state,
(bb)“relevant state” means the United Kingdom or a member State,”.
(18) In section 820—
(a)in subsection (4), in the definition of “transparent entity” omit “other than the United Kingdom”;
(b)in subsection (5)—
(i)for “member State”, in both places where the expression occurs, substitute “relevant state”;
(ii)for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.
(19) In section 821—
(a)in subsection (3) for “member State” substitute “relevant state”;
(b)in subsection (4) for “State” substitute “relevant state”;
(c)in subsection (5)(b) for “another” substitute “a”.
(20) In section 823(71)—
(a)after subsection (1) insert—
“(1A) “Relevant state” means the United Kingdom or a member State.”;
(b)in subsection (6) omit “other than the United Kingdom”.
(21) In section 1123(5) omit “(other than the United Kingdom)”.
(22) In section 1217AE(72)—
(a)for “EEA expenditure”, in each place where the expression occurs (including the heading), substitute “European expenditure”;
(b)in subsection (1) after “within” insert “the United Kingdom or”;
(c)in subsection (2) for “non-EEA expenditure” substitute “non-European expenditure”.
(23) In section 1217C(2)(c) for “EEA” substitute “European”.
(24) In section 1217CE, in subsection (1) and the heading for “EEA expenditure” substitute “European expenditure”.
(25) In section 1217CG for “EEA expenditure”, in both places where the expression occurs, substitute “European expenditure”.
(26) In section 1217EB for “EEA expenditure”, in each place where the expression occurs (including the heading), substitute “European expenditure”.
(27) In section 1217G(1)(b)(73) for “EEA” substitute “European”.
(28) In section 1217GB—
(a)for “EEA”, in each place where this occurs (including the heading), substitute “European”;
(b)in subsection (2) after “within” insert “the United Kingdom or”;
(c)in subsection (3) for “non-EEA” substitute “non-European”.
(29) In section 1217J for “EEA expenditure”, in both places where the expression occurs, substitute “European expenditure”.
(30) In section 1217N for “EEA”, in each place where this occurs, substitute “European”.
(31) In section 1217NA for “EEA”, in each place where this occurs, substitute “European”.
(32) In section 1217OB for “EEA”, in both places where this occurs, substitute “European”.
(33) In section 1217RA(74)—
(a)in subsection (2)(d) for “EEA expenditure condition” substitute “European expenditure condition”;
(b)in subsection (4)(d) for “EEA expenditure condition” substitute “European expenditure condition”.
(34) In section 1217RB—
(a)for “EEA”, in each place where this occurs (including the heading), substitute “European”;
(b)in subsection (2) after “within” insert “the United Kingdom or”;
(c)in subsection (3) for “non-EEA” substitute “non-European”.
(35) In section 1217RE for “EEA expenditure”, in both places where the expression occurs, substitute “European expenditure”.
(36) In section 1217T for “EEA”, in each place where this occurs, substitute “European”.
(37) In section 1217TA for “EEA”, in each place where this occurs, substitute “European”.
(38) In section 1217U for “EEA”, in both places where this occurs, substitute “European”.
(39) In section 1218ZCA(5)(75) for “EEA” substitute “European”.
(40) In section 1218ZCC—
(a)for “EEA”, in each place where this occurs (including the heading), substitute “European”;
(b)in subsection (2) after “within” insert “the United Kingdom or”;
(c)in subsection (3) for “non-EEA” substitute “non-European”.
(41) In section 1218ZCF for “EEA expenditure”, in both places where the expression occurs, substitute “European expenditure”.
(42) In section 1218ZE for “EEA”, in each place where this occurs, substitute “European”.
(43) In section 1218ZEA for “EEA”, in each place where this occurs, substitute “European”.
(44) In section 1218ZFA for “EEA”, in both places where this occurs, substitute “European”.
(45) Schedule 4(76) is amended as follows—
(a)for “EEA”, in each place where this occurs, substitute “European”;
(b)in each entry relating to a definition of “resident in a member State”, for “member State” substitute “relevant state”.
Commencement Information
17.—(1) The Corporation Tax Act 2010(77) is amended as follows.
F1(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) In section 269ZG(6)(78) omit paragraphs (b) and (c).
(6) For section 357XC(2)(a)(79) substitute—
“(a)“UCITS” means—
(i)a UCITS within the meaning given by section 236A of the Financial Services and Markets Act 2000(80); or
(ii)an undertaking established in Gibraltar which is a UCITS under the law of Gibraltar which implemented Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities(81);”.
(7) In section 512(1)(a) after “by” insert “Her Majesty’s Government in the United Kingdom or by”.
(8) In section 635(82)—
(a)in subsection (2)—
(i)omit “, or” at the end of paragraph (a);
(ii)omit paragraph (b);
(b)omit subsection (6).
(9) In section 661A(83)—
(a)in subsection (1)—
(i)in paragraph (a) for “a member State” substitute “the United Kingdom”;
(ii)in paragraph (b) for “a single member State or relevant territory” substitute “the United Kingdom or are all located in a single relevant territory”;
(b)in subsection (2) for “means a territory specified in regulations under paragraph 2(3)(b)” substitute “has the meaning given by paragraph 2(3)”.
(10) In the italic cross-heading before section 990, at the beginning insert “UK Economic Interest Groupings and”.
(11) In section 990—
(a)in the heading, at the beginning insert “UK Economic Interest Groupings(84) and”;
(b)in subsection (1) after “rules about” insert “UK Economic Interest Groupings and”;
(c)for subsection (7) substitute—
“(7) “European Economic Interest Grouping” means a grouping registered in a member State and formed in pursuance of Council Regulation (EEC) No. 2137/85 of 25 July 1985 on the European Economic Interest Grouping(85) as it has effect in EU law.”.
(12) In section 1120(2) omit paragraph (c).
(13) For section 1158(4)(86) substitute—
“(4) For this purpose “regulated market” means—
(a)a UK regulated market within the meaning given by Article 2.1(13A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,
(b)an EU regulated market within the meaning given by Article 2.1(13B) of that Regulation, and
(c)a regulated market within the meaning given by Article 2.1(13) of that Regulation which is authorised and functions regularly and in accordance with Part 3 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar.”.
Textual Amendments
F1Reg. 17(2)(3)(4) omitted (with effect in accordance with Sch. 4 paras. 4(1), 5(1), 6(1) of the amending Act) by virtue of Finance Act 2022 (c. 3), Sch. 4 para. 3
Commencement Information
18.—(1) The Taxation (International and Other Provisions) Act 2010(87) is amended as follows.
(2) In section 116—
(a)in subsection (2)(a)—
(i)for “another” substitute “a”;
(ii)omit “other than the United Kingdom”;
(b)in subsection (3)—
(i)in paragraphs (b) and (c) omit “other than the United Kingdom”;
(ii)in paragraph (f)(ii) for “another” substitute “a”;
(c)in subsections (4)(b), (5)(b) and (6)(a)(i) for “member State” substitute “relevant state”;
(d)after subsection (7) insert—
“(7A) In this section “relevant state” means the United Kingdom or a member State.”;
(e)in subsection (8)—
(i)for “member State”, in both places where the expression occurs, substitute “relevant state”;
(ii)for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.
(3) In section 117(1) and (2)(a) omit “other”.
(4) In section 118(88)—
(a)in subsection (3) for “member State” substitute “relevant state”;
(b)in subsection (4) for “State” substitute “relevant state”;
(c)in subsection (5)—
(i)for “another” substitute “a”;
(ii)omit “other than the United Kingdom”;
(d)in subsection (7)(b) for “another” substitute “a”;
(e)in subsection (10)—
(i)for “member State”, in both places where the expression occurs, substitute “relevant state”;
(ii)for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”;
(f)in subsection (11)—
(i)in the definition of “co-operative society” omit “other than the United Kingdom”;
(ii)insert at the appropriate place—
““relevant state” means the United Kingdom or a member State,”.
(5) In section 119(1) and (2)(a) omit “other”.
(6) In section 120(1) and (6) omit “other than the United Kingdom”.
(7) In section 121(2)(a) omit “other”.
(8) In section 122(2), in the definition of “host State” omit “(other than the United Kingdom)”.
Commencement Information
19.—(1) Part 2 of the Finance Act 2010(89) (charities etc.) is amended as follows.
(2) In Schedule 6, in paragraph 2(3)(a) omit “other than the United Kingdom”.
Commencement Information
20.—(1) Part 5 of the Finance Act 2011(90) (bank levy) is amended by paragraph (2) and Part 7 of that Act (data-gathering) is amended by paragraph (3).
(2) In Schedule 19—
(a)in paragraph 13(4) for the definition of “dealing on own account” substitute —
“dealing on own account” has the same meaning as in Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (see Article 2.1(5))(91);”;
(b)in paragraph 31(4)(92) before paragraph (a) insert—
“(za)they are debt securities issued by the Bank of England, Her Majesty’s Government in the United Kingdom, or the government of Gibraltar,”;
(c)in paragraph 67A(4)(93) for “and” substitute “to”.
(3) In Schedule 23—
(a)in paragraph 13D(3)(94)—
(i)omit “, or” at the end of paragraph (a);
(ii)omit paragraph (b);
(b)in paragraph 45(4)(a)(95) omit “, other than the United Kingdom,”.
Commencement Information
21.—(1) Part 2 of the Finance Act 2012(96) (insurance companies carrying on long-term business) is amended as follows.
(2) In section 65—
(a)in subsection (2) omit paragraphs (b) and (c);
(b)in subsection (3)(b) omit “(b) or (c),”.
Commencement Information
22.—(1) Part 3 of the Finance Act 2013(97) (annual tax on enveloped dwellings) is amended as follows.
(2) In section 174(2) at the appropriate place insert—
“references to the “management company”, in relation to an EEA UCITS, are to be read in accordance with Article 2.1(b) of the Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities(98);”.
Commencement Information
See the European Economic Interest Grouping (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1299).
Section 12A was inserted by paragraph 2 of Schedule 11 to the Finance Act 1990 (c. 29) and amended by paragraph 2 of Schedule 19 to the Finance Act 1994 (c. 9).
OJ No. L 199, 31.07.1985, p.1.
S.I. 1989/638; relevant amending instruments are S.I. 2009/2399, S.I. 2014/2382, S.I. 2018/1299.
Section 98B was inserted by paragraph 3 of Schedule 11 to the Finance Act 1990.
Section 59(3)(b) was amended by section 52(4) of the Finance Act 1995 (c. 4), S.I. 2001/3629, paragraph 69 of Schedule 16 to the Finance Act 2012 (c. 14) and paragraph 44 of Schedule 18 to the Financial Services Act 2012 (c. 21).
Section 115(5) was substituted by section 122(3) of the Finance Act 2009 (c. 10).
Section 125(1A) was inserted by section 122(6) of the Finance Act 2009.
Subsection (4) of section 99 was amended, and subsection (4A) of that section inserted, by section 57(1) of the Finance Act (No. 2) 2005 (c. 22).
See the European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298).
The heading to section 116 was amended by S.I. 2017/1064. Section 116 was amended by paragraph 7(2) of Schedule 21 of the Finance Act 2007 (c. 11), S.I. 2013/504, S.I. 2017/701, and S.I 2017/1064.
Regulation (EU) No. 600/2014 is amended by S.I. 2018/1403 with effect from exit day.
L.N. 2017/135.
Section 140A was inserted by section 44 of the Finance (No. 2) Act 1992 (c. 48). Subsection (1) was amended by section 59(3) of the Finance (No. 2) Act 2005 and S.I. 2007/3186. Subsections (1A) and (1C) were inserted by S.I. 2007/3186.
Section 140C was inserted by section 45 of the Finance (No. 2) Act 1992. Subsection (1)(a) was amended, and subsections (1A) and (1C) were inserted, by S.I. 2007/3186.
Section 140DA was inserted by S.I. 2007/3186.
Section 140E was inserted by section 51(1) of the Finance (No. 2) Act 2005 and substituted by S.I. 2007/3186.
Section 140F was inserted by section 51(1) of the Finance (No. 2) Act 2005 and substituted by S.I. 2007/3186. Subsection (2) was amended by S.I. 2008/1579.
Section 140G was inserted by section 51(1) of the Finance (No. 2) Act 2005 and substituted by S.I. 2007/3186.
Section 140GA was inserted by S.I. 2008/1579.
Sections 140H to 140L were inserted by S.I. 2007/3186. Subsection (3) of sections 140H, 140I and 140J were amended by paragraph 44 of Schedule 8 to the Taxation (International and Other Provisions) Act 2010 (c. 8).
Section 140L(1) was amended by paragraph 235 of Schedule 1 to the Corporation Tax Act 2010 (c. 4), S.I. 2008/1579 and S.I. 2011/1431.
Section 151N was inserted by paragraph 34 of Schedule 2 to the Taxation (International and Other Provisions) Act 2010 and amended by section 34(2) of the Finance Act 2018 (c. 3).
Section 241A was inserted by paragraph 14(3) of Schedule 14 to the Finance Act 2011 (c. 11).
Section 285A was inserted by paragraph 341 of Schedule 1 to the Income Tax Act 2007 (c. 3).
See the European Economic Interest Grouping (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1299).
OJ L No.199, 31.07.1985, p. 1.
Section 96(8) was relevantly amended by S.I. 2001/3629 and paragraph 83 of Schedule 18 to the Financial Services Act 2012 (c. 21).
Paragraph 2(4)(a) was amended by S.I. 2011/1043.
1999 c. 16. Paragraph 11 of Schedule 15 was amended by section 58(3) of the Finance (No. 2) Act 2005.
See the European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298).
Section 51G(7) was inserted by paragraph 3 of Schedule 24 to the Finance Act 2008 (c. 9).
Section 561(1) was substituted by S.I. 2007/3186.
Section 63(7) was relevantly amended by paragraph 98 of Schedule 18 to the Financial Services Act 2012.
Section 102A was inserted by paragraph 1 of Schedule 16 to the Finance Act 2016 (c. 24).
Schedule 7A was inserted by paragraph 4 of Schedule 16 to the Finance Act 2016.
Section 244C was inserted by paragraph 11 of Schedule 4 to the Finance Act 2017 (c. 10).
Section 326(7) was inserted by paragraph 2(4)(b) of Schedule 14 to the Finance Act 2011.
Section 381E was inserted by paragraph 3 of Schedule 12 to the Finance Act 2013 (c. 29).
Section 274(4) was inserted by paragraph 2 of Schedule 2 to Finance (No. 3) Act 2010 (c. 33) and amended by S.I. 2017/701.
Section 392(4) was relevantly amended by section 13(2)(a) of the Finance Act 2014 (c. 26).
Section 393A was inserted by section 13(3) of the Finance Act 2014.
Section 397(2)(a) was substituted by section 14(1) of the Finance Act 2014.
Section 564G was inserted by paragraph 8 of Schedule 2 to the Taxation (International and Other Provisions) Act 2010 and amended by section 34 of the Finance Act 2018.
Section 837B was inserted by paragraph 71 of Schedule 7 to the Taxation (International and Other Provisions) Act 2010 (c. 8).
See the European Economic Interest Grouping (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1299).
OJ L No. 199, 31.07.1985, p. 1.
Section 987 was amended by section 34 of the Finance Act 2018 (c. 3).
L.N. 2017/135.
Section 133I was inserted by section 18 of the Finance (No. 2) Act 2015 (c.33).
Section 268(7) was inserted by paragraph 7(4)(b) of Schedule 14 to the Finance Act 2011.
Section 439(1) was relevantly amended by paragraph 142 of Schedule 4 to the Co-operative and Community Benefits Societies Act 2014 (c.14).
Section 507(1) was relevantly amended by section 34(4) of the Finance Act 2018 (c. 3).
Section 688(1) was relevantly amended by paragraph 142 of Schedule 4 to the Co-operative and Community Benefits Societies Act 2014.
Section 823(6) was relevantly amended by paragraph 142 of Schedule 4 to the Co-operative and Community Benefit Societies Act 2014.
Sections 1217AE to 1217EB were inserted by paragraph 1 of Schedule 17 to the Finance Act 2013 (c. 29) and amended by section 34 of the Finance Act 2014.
Sections 1217G to 1217OB were inserted by paragraph 1 of Schedule 4 to the Finance Act 2014.
Sections 1217RA to 1217U were inserted by paragraph 1 of Schedule 8 to the Finance Act 2016 (c. 24).
Sections 1218ZCA to 1218ZFA were inserted by paragraph 1 of Schedule 6 to the Finance (No. 2) Act 2017 (c.32).
Schedule 4 was amended by paragraph 1 of Schedule 4 to the Finance Act 2014, by paragraph 1 of Schedule 8 to the Finance Act 2016 and paragraph 1 of Schedule 6 to the Finance (No. 2) Act 2017.
Section 269ZG was inserted by paragraph 16 of Schedule 4 to the Finance (No 2) Act 2017.
Section 357XC was inserted by section 1 of the Corporation Tax (Northern Ireland) Act 2015 (c. 21).
2000 c. 8. Section 236A was inserted S.I. 2019/325.
OJ No. L 302, 17.11.2009, p.32. Directive 2009/65/EC was amended by Directive 2014/91/EU, OJ No. L 257, 28.8.2014, p.186.
Section 635(2) was amended by paragraph 129 of Schedule 18 to the Financial Services Act 2012 (c. 21).
Section 661A was inserted by paragraph 32 of Schedule 6 to the Finance Act 2010 (c. 13).
See the European Economic Interest Grouping (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1299).
OJ L No. 199, 31.07.1985, p. 1.
Section 1158 was substituted by section 49 of the Finance Act 2011 (c. 11) and relevantly amended by S.I. 2017/701.
Section 118(11) was amended by paragraph 171(3) of Schedule 4 to the Co-operative and Community Benefit Societies Act 2014 as amended by paragraph 14 of Schedule 39 to the Finance Act 2014 (c. 26).
Regulation (EU) No 600/2014 is amended by S.I. 2018/1403 with effect from exit day.
Paragraph 31(4) was substituted by S.I. 2016/874.
Paragraph 67A was inserted by paragraph 11(2) of Schedule 34 to the Finance Act 2012 (c.14).
Paragraph 13D was inserted by section 69 of the Finance (No. 2) Act 2017.
Paragraph 45(4)(a) was amended by S.I. 2012/3062.
OJ No. L 302, 17.11.2009, p.32. Directive 2009/65/EC was amended by Directive 2014/91/EU, OJ No. L 257, 28.8.2014, p.186.