Part 1 Excise Duties

Tobacco products duty

• 1 Rates of tobacco products duty

Alcoholic liquor duties

• 2 Rate of duty on beer
• 3 Rates of duty on wine and made-wine
• 4 Duty stamps for spirits etc

Hydrocarbon oil etc duties

• 5 Rates
• 6 Road fuel gas
• 7 Sulphur-free fuel
• 8 Definition of “fuel oil”
• 9 Mixing of rebated oil
• 10 Bioethanol
• 11 Biodiesel
• 12 Fuel substitutes
• 13 Warehousing
• 14 Treatment of certain energy products

Betting and gaming duties

• 15 General betting duty: pool betting
• 16 Rates of gaming duty

Amusement machine licence duty

• 17 Amusement machine licence duty: rates

Vehicle excise duty

• 18 Fee for payment of duty by credit card

Part 2 Value Added Tax

• 19 Disclosure of VAT avoidance schemes
• 20 Groups
• 21 Reverse charge on gas and electricity supplied by persons outside UK
• 22 Use of stock in trade cars for consideration less than market value

Part 3 Income Tax, Corporation Tax and Capital Gains Tax

Income tax

• 23 Charge and rates for 2004–05
• 24 Personal allowances for those aged 65 or more

Corporation tax

• 25 Charge and main rate for financial year 2005
• 26 Small companies' rate and fraction for financial year 2004
• 27 Corporation tax starting rate and fraction for financial year 2004
• 28 The non-corporate distribution rate

Trusts

• 29 Special rates of tax applicable to trusts

Transfer pricing

• 30 Provision not at arm's length: transactions between UK taxpayers etc
• 31 Exemptions for dormant companies and small and medium-sized enterprises
• 32 Special applications of paragraph 6 of Schedule 28AA to the Taxes Act 1988

Penalties: temporary relaxation

• 33 Provision not at arm's length: temporary relaxation of liability to penalty

Thin capitalisation

• 34 Payments of excessive interest etc
• 35 Elimination of double counting etc
• 36 Balancing payments and elections to pay tax instead

Transfer pricing and thin capitalisation: commencement

• 37 Commencement and transitional provisions

Expenses of companies with investment business and insurance companies

• 38 Expenses of management: companies with investment business
• 39 Accounting period to which expenses of management are referable
• 40 Expenses of insurance companies
• 41 Related amendments to other enactments
• 42 Commencement of sections 38 to 41
• 43 Companies with investment business: transitional provisions
• 44 Insurance companies: transitional provisions

Amounts reversing expenses of management deducted

• 45 Amounts reversing expenses of management deducted: charge to tax

Power to make consequential amendments

• 46 Power to make consequential amendments

Insurance companies: miscellaneous

• 47 Insurance companies etc

Loan relationships and derivative contracts

• 48 Loan relationships: miscellaneous amendments
• 49 Derivative contracts: miscellaneous amendments

Accounting practice

• 50 Generally accepted accounting practice
• 51 Use of different accounting practices within a group of companies
• 52 Amendment of enactments that operate by reference to accounting practice
• 53 Treatment of expenditure on research and development
• 54 Trading profits etc from securities: taxation of amounts taken to reserves

Miscellaneous

• 55 Duty of company to give notice of coming within charge to corporation tax
• 56 Relief for community amateur sports clubs

Introduction

• 57 Introduction
• 58 Sub-contractors
• 59 Contractors

Deductions on account of tax from contract payments to sub-contractors

• 60 Contract payments
• 61 Deductions on account of tax from contract payments
• 62 Treatment of sums deducted

Registration of sub-contractors

• 63 Registration for gross payment or for payment under deduction
• 64 Requirements for registration for gross payment
• 65 Change in control of company registered for gross payment
• 66 Cancellation of registration for gross payment
• 67 Registration for gross payment: appeals
• 68 Registration for payment under deduction: cancellation and appeals

Verification, returns etc and penalties

• 69 Verification etc of registration status of sub-contractors
• 70 Periodic returns by contractors etc
• 71 Collection and recovery of sums to be deducted
• 72 Penalties

Supplementary

• 73 Regulations under this Chapter: supplementary
• 74 Meaning of “construction operations”
• 75 Meaning of “the Inland Revenue” etc and delegation of Board's functions
• 76 Consequential amendments
• 77 Commencement and transitional provision

Taxable benefits

• 78 Childcare and childcare vouchers
• 79 Exemption for loaned computer equipment
• 80 Vans
• 81 Emergency vehicles
• 82 European travel expenses of MPs and other representatives

Gift aid

• 83 Giving through the self-assessment return

Gifts with a reservation

• 84 Charge to income tax by reference to enjoyment of property previously owned

Employment-related securities and options

• 85 Relief where national insurance contributions met by employee
• 86 Shares in employee-controlled companies and unconnected companies
• 87 Restricted securities with artificially depressed value
• 88 Shares under approved plans and schemes
• 89 Shares acquired on public offer
• 90 Associated persons etc

Miscellaneous

• 91 Income of spouses: jointly held property
• 92 Minor amendments of or connected with ITEPA 2003
• 93 Enterprise investment scheme
• 94 Venture capital trusts
• 95 Corporate venturing scheme
• 96 Enterprise management incentives: subsidiaries

Introductory

• 97 Introductory

Exemption from income tax

• 98 Exemption from income tax for certain interest and royalty payments
• 99 Permanent establishments and “25% associates”

Exemption notices

• 100 Interest payments: exemption notices

Payment without deduction

• 101 Payment of royalties without deduction at source
• 102 Claim for tax deducted at source from exempt interest or royalty payments

Special relationships and anti-avoidance

• 103 Special relationships
• 104 Anti-avoidance

Supplementary

• 105 Consequential amendments
• 106 Transitional provision

Introductory

• 107 Introductory

Credit etc for special withholding tax

• 108 Income tax credit etc for special withholding tax
• 109 Capital gains tax credit etc for special withholding tax
• 110 Credit under Part 18 of Taxes Act 1988 to be allowed first

Computation of income etc

• 111 Computation of income etc subject to special withholding tax only
• 112 Computation of income etc subject to foreign tax and special withholding tax

Certificates to avoid levy of special withholding tax

• 113 Issue of certificate
• 114 Refusal to issue certificate and appeal against refusal

Supplementary

• 115 Supplementary
• 116 Restriction of gifts relief etc
• 117 Private residence relief
• 118 Authorised unit trusts: treatment of umbrella schemes

Individuals benefited by film relief

• 119 Individuals benefited by film relief
• 120 “Disposal of a right of the individual to profits arising from the trade”
• 121 “The losses claimed” and “the individual's capital contribution to the trade”
• 122 Computing the chargeable amount
• 123 “Film-related losses” and “non-taxable consideration”

Individuals in partnership: restriction of relief

• 124 Restriction of relief: non-active partners
• 125 Partnerships exploiting films

Individuals in partnership: exit charge

• 126 Losses derived from exploiting licence: introductory
• 127 Charge to income tax
• 128 Definitions for purposes of section 127
• 129 Disposals to which section 126 applies
• 130 “A significant amount of time”

Companies in partnership

• 131 Companies in partnership
• 132 Companies in partnership: supplementary
• 133 Relationship with chargeable gains
• 134 Finance leasebacks
• 135 Rent factoring of leases of plant or machinery
• 136 Manufactured dividends
• 137 Manufactured payments under arrangements having an unallowable purpose
• 138 Gilt strips
• 139 Gifts of shares, securities and real property to charities etc
• 140 Life policies etc: restriction of corresponding deficiency relief

Reliefs for business

• 141 Relief for research and development: software and consumable items
• 142 Temporary increase in amount of first-year allowances for small enterprises
• 143 Deduction for expenditure by landlords on energy-saving items
• 144 Lloyd's names: conversion to limited liability underwriting

Offshore matters

• 145 Offshore funds
• 146 Meaning of “offshore installation”

Health

• 147 Immediate needs annuities
• 148 Corporation tax: health service bodies

Part 4 Pension Schemes etc

Introductory

• 149 Overview of Part 4

Main concepts

• 150 Meaning of “pension scheme”
• 151 Meaning of “member”
• 152 Meaning of “arrangement”

Registration

• 153 Registration of pension schemes
• 154 Persons by whom registered pension scheme may be established
• 155 Persons by whom scheme may be established: supplementary
• 156 Appeal against decision not to register

De-registration

• 157 De-registration
• 158 Grounds for de-registration
• 159 Appeal against decision to de-register

Introductory

• 160 Payments by registered pension schemes
• 161 Meaning of “payment” etc
• 162 Meaning of “loan”
• 163 Meaning of “borrowing” etc

Authorised member payments

• 164 Authorised member payments
• 165 Pension rules
• 166 Lump sum rule
• 167 Pension death benefit rules
• 168 Lump sum death benefit rule
• 169 Recognised transfers
• 170 Appeal against decision to exclude recognised overseas pension scheme
• 171 Scheme administration member payments

Unauthorised member payments

• 172 Assignment
• 173 Benefits
• 174 Value shifting

Authorised employer payments

• 175 Authorised employer payments
• 176 Public service scheme payment
• 177 Authorised surplus payment
• 178 Compensation payments
• 179 Authorised employer loan
• 180 Scheme administration employer payments

Unauthorised employer payments

• 181 Value shifting

Borrowing

• 182 Unauthorised borrowing: money purchase arrangements
• 183 Effect of unauthorised borrowing: money purchase arrangements
• 184 Unauthorised borrowing: other arrangements
• 185 Effect of unauthorised borrowing: other arrangements

Scheme investments

• 186 Income
• 187 Chargeable gains

Members' contributions

• 188 Relief for contributions
• 189 Relevant UK individual
• 190 Annual limit for relief
• 191 Methods of giving relief
• 192 Relief at source
• 193 Relief under net pay arrangements
• 194 Relief on making of claim
• 195 Transfer of certain shares to be treated as payment of contribution

Employers' contributions

• 196 Relief for employers in respect of contributions paid
• 197 Spreading of relief
• 198 Spreading of relief: cessation of business
• 199 Deemed contributions
• 200 No other relief for employers in connection with contributions
• 201 Relief for employees

Inland Revenue contributions

• 202 Minimum contributions under pensions legislation

Inheritance tax exemptions

• 203 Inheritance tax exemptions

Charges on authorised payments

• 204 Authorised pensions and lump sums
• 205 Short service refund lump sum charge
• 206 Special lump sum death benefits charge
• 207 Authorised surplus payments charge

Unauthorised payments charge

• 208 Unauthorised payments charge
• 209 Unauthorised payments surcharge
• 210 Surchargeable unauthorised member payments
• 211 Valuation of crystallised rights for purposes of section 210
• 212 Valuation of uncrystallised rights for purposes of section 210
• 213 Surchargeable unauthorised employer payments

Lifetime allowance charge

• 214 Lifetime allowance charge
• 215 Amount of charge
• 216 Benefit crystallisation events and amounts crystallised
• 217 Persons liable to charge
• 218 Individual's lifetime allowance and standard lifetime allowance
• 219 Availability of individual's lifetime allowance
• 220 Pension credits from previously crystallised rights
• 221 Non-residence: general
• 222 Non-residence: money purchase arrangements
• 223 Non-residence: other arrangements
• 224 Transfers from recognised overseas pension scheme: general
• 225 Overseas scheme transfers: money purchase arrangements
• 226 Overseas scheme transfers: other arrangements

Annual allowance charge

• 227 Annual allowance charge
• 228 Annual allowance
• 229 Total pension input amount
• 230 Cash balance arrangements
• 231 Cash balance arrangements: uprating of opening value
• 232 Cash balance arrangements: adjustments of closing value
• 233 Other money purchase arrangements
• 234 Defined benefits arrangements
• 235 Defined benefits arrangements: uprating of opening value
• 236 Defined benefits arrangements: adjustments of closing value
• 237 Hybrid arrangements
• 238 Pension input period

Scheme sanction charge

• 239 Scheme sanction charge
• 240 Amount of charge
• 241 Scheme chargeable payment

De-registration charge

• 242 De-registration charge

Non-UK schemes

• 243 Overseas pension schemes: migrant member relief
• 244 Non-UK schemes: application of certain charges

Employer-financed retirement benefit schemes

• 245 Restriction of deduction for contributions by employer
• 246 Restriction of deduction for non-contributory provision
• 247 Abolition of income tax charge in respect of employer payments
• 248 Employer's cost of insuring against non-payment of benefit
• 249 Taxation of non-pension benefits

Information

• 250 Registered pension scheme return
• 251 Information: general requirements
• 252 Notices requiring documents or particulars
• 253 Appeal against notices

Accounting and assessment

• 254 Accounting for tax by scheme administrators
• 255 Assessments under this Part

Registration regulations

• 256 Enhanced lifetime allowance regulations

Penalties

• 257 Registered pension scheme return
• 258 Information required by regulations
• 259 Documents and particulars required by notice
• 260 Accounting return
• 261 Enhanced lifetime allowance regulations: documents and information
• 262 Enhanced lifetime allowance regulations: failures to comply
• 263 Lifetime allowance enhanced protection: benefit accrual
• 264 False statements etc
• 265 Winding-up to facilitate payment of lump sums
• 266 Transfers to insured schemes

Discharge of tax liability: good faith

• 267 Lifetime allowance charge
• 268 Unauthorised payments surcharge and scheme sanction charge
• 269 Appeal against decision on discharge of liability

Scheme administrator

• 270 Meaning of “scheme administrator”
• 271 Liability of scheme administrator
• 272 Trustees etc liable as scheme administrator
• 273 Members liable as scheme administrator
• 274 Supplementary

Interpretation

• 275 Insurance company
• 276 Relevant valuation factor
• 277 Valuation assumptions
• 278 Market value
• 279 Other definitions
• 280 Abbreviations and general index

Other supplementary provisions

• 281 Minor and consequential amendments
• 282 Orders and regulations
• 283 Transitionals and savings
• 284 Commencement

Part 5 Oil

• 285 Certain receipts not to be tariff receipts
• 286 Petroleum extraction activities: exploration expenditure supplement
• 287 Restrictions on expenditure allowable
• 288 Terminal losses

Part 6 Other Taxes

Climate change levy

• 289 Supplies to producers of commodities

Aggregates levy

• 290 Transitional tax credit in Northern Ireland: changes to existing scheme
• 291 Transitional tax credit in Northern Ireland: new scheme

Lorry road-user charge

• 292 Lorry road-user charge

Inheritance tax

• 293 Delivery of accounts etc
• 294 Grant of probate
• 295 Amendments to penalty regime

Stamp duty land tax and stamp duty

• 296 Miscellaneous amendments

Stamp duty land tax

• 297 Leases
• 298 Notification, registration and penalties
• 299 Claims not included in returns
• 300 Assents and appropriations by personal representatives
• 301 Chargeable consideration
• 302 Charities relief
• 303 Shared ownership leases
• 304 Application to certain partnership transactions
• 305 Liability of partners

Part 7 Disclosure of Tax Avoidance Schemes

• 306 Meaning of “notifiable arrangements” and “notifiable proposal”
• 307 Meaning of “promoter”
• 308 Duties of promoter
• 309 Duty of person dealing with promoter outside United Kingdom
• 310 Duty of parties to notifiable arrangements not involving promoter
• 311 Arrangements to be given reference number
• 312 Duty of promoter to notify client of number
• 313 Duty of parties to notifiable arrangements to notify Board of number, etc
• 314 Legal professional privilege
• 315 Penalties
• 316 Information to be provided in form and manner specified by Board
• 317 Regulations under Part 7
• 318 Interpretation of Part 7
• 319 Part 7: commencement and savings

Part 8 Miscellaneous Matters

• 320 Exclusion of extended limitation period in England, Wales and Northern Ireland
• 321 Exclusion of extended prescriptive period in Scotland
• 322 Mutual assistance: customs union with the Principality of Andorra
• 323 Ending of shipbuilders' relief
• 324 Government borrowing: preparations for possible adoption of Euro
• 325 Premium bonds

Part 9 Supplementary Provisions

• 326 Repeals
• 327 Interpretation
• 328 Short title
• SCHEDULE 1 New Schedule 2A to the Alcoholic Liquor Duties Act 1979

SCHEDULE 2 Disclosure of Value Added Tax Avoidance Schemes

• Part 1 Principal Amendments of Value Added Tax Act 1994
• Part 2 Consequential Amendments

SCHEDULE 3 Corporation Tax: the Non-Corporate Distribution Rate: Supplementary Provisions

• Part 1 General Provisions
• Part 2 Allocation of Excess NCDs to Other Companies
• Part 3 Other Supplementary Provisions
• SCHEDULE 4 Amendments Relating to the Rate Applicable to Trusts
• SCHEDULE 5 Provision Not at Arm's Length: Related Amendments
• SCHEDULE 6 Expenses of Companies with Investment Business and Insurance Companies
• SCHEDULE 7 Insurance Companies etc
• SCHEDULE 8 Loan Relationships: Miscellaneous Amendments
• SCHEDULE 9 Derivative Contracts: Miscellaneous Amendments

SCHEDULE 10 Amendment of Enactments that Operate by Reference to Accounting Practice

• Part 1 Loan Relationships
• Part 2 Derivative Contracts
• Part 3 Intangible Fixed Assets
• Part 4 Foreign Currency Accounting

SCHEDULE 11 Conditions for Registration for Gross Payment

• Part 1 Conditions to be Satisfied by Individuals
• Part 2 Conditions to be Satisfied by Firms
• Part 3 Conditions to be Satisfied by Companies
• Part 4 Supplementary Provisions
• SCHEDULE 12 Construction Industry Scheme: Consequential Amendments
• SCHEDULE 13 Childcare and Childcare Vouchers
• SCHEDULE 14 Vans
• SCHEDULE 15 Charge to Income Tax on Benefits Received by Former Owner of Property
• SCHEDULE 16 Relief Where National Insurance Contributions Met by Employee
• SCHEDULE 17 Minor Amendments of or Connected with the Income Tax (Earnings and Pensions) Act 2003

SCHEDULE 18 Enterprise Investment Scheme

• Part 1 Income Tax Relief
• Part 2 Deferral Relief
• Part 3 Commencement

SCHEDULE 19 Venture Capital Trusts

• Part 1 Increase in Relief on Investments and Distributions
• Part 2 Abolition of Deferral Relief
• Part 3 Miscellaneous
• SCHEDULE 20 Corporate Venturing Scheme
• SCHEDULE 21 Chargeable Gains: Restriction of Gifts Relief etc
• SCHEDULE 22 Chargeable Gains: Private Residence Relief
• SCHEDULE 23 Finance Leasebacks: Transitional Provision
• SCHEDULE 24 Manufactured Dividends
• SCHEDULE 25 Lloyd's Names: Conversion to Limited Liability Underwriting
• SCHEDULE 26 Offshore Funds

SCHEDULE 27 Meaning of “Offshore Installation”

• Part 1 The New Definition
• Part 2 Minor and Consequential Amendments

SCHEDULE 28 Registered Pension Schemes: Authorised Pensions—Supplementary

• Part 1 Pension Rules
• Part 2 Pension Death Benefit Rules

SCHEDULE 29 Registered Pension Schemes: Authorised Lump Sums—Supplementary

• Part 1 Lump Sum Rule
• Part 2 Lump Sum Death Benefit Rule
• SCHEDULE 30 Registered Pension Schemes: Employer Loans
• SCHEDULE 31 Taxation of Benefits Under Registered Pension Schemes
• SCHEDULE 32 Registered Pension Schemes: Benefit Crystallisation Events—Supplementary
• SCHEDULE 33 Overseas Pension Schemes: Migrant Member Relief
• SCHEDULE 34 Non-UK Schemes: Application of Certain Charges
• SCHEDULE 35 Pension Schemes etc: Minor and Consequential Amendments

SCHEDULE 36 Pension Schemes etc: Transitional Provisions and Savings

• Part 1 Pre-Commencement Pension Schemes
• Part 2 Pre-Commencement Rights: Lifetime Allowance Charge
• Part 3 Pre-Commencement Benefit Rights
• Part 4 Other Provisions

SCHEDULE 37 Oil Taxation: Tax-Exempt Tariffing Receipts and Assets Producing Them

• Part 1 Amendments of the Oil Taxation Act 1983 Relating to Allowable Expenditure and Disposal Receipts
• Part 2 Transitional Provision
• Part 3 Amendments of the Taxes Act 1988
• Part 4 Amendments of Other Enactments
• SCHEDULE 38 Schedule to be Inserted as Schedule 19B to the Taxes Act 1988

SCHEDULE 39 Stamp Duty Land Tax and Stamp Duty

• Part 1 Amendments to Part 4 of the Finance Act 2003: General
• Part 2 Re-Enactment, with Changes, of Amendments Made by Section 109 Regulations
• SCHEDULE 40 Stamp Duty Land Tax: Claims Not Included in Returns
• SCHEDULE 41 Stamp Duty Land Tax: Application to Certain Partnership Transactions

SCHEDULE 42 Repeals

• Part 1 Excise Duties
• Part 2 Income Tax, Corporation Tax and Capital Gains Tax
• Part 3 Pension Schemes etc
• Part 4 Other Taxes
• Part 5 Miscellaneous Matters