Finance Act 1990
Finance Act 1990 (1990 c. 29)
- Finance Act 1990 (1990 c. 29)
- Part I Customs and Excise and Value Added Tax
- chapter I Customs and Excise
- Rates of duty
- 1 Spirits, beer, wine, made-wine and cider.
- 2 Tobacco products.
- 3 Hydrocarbon oil.
- 4 Pool betting duty.
- 5 Vehicles excise duty.
- Other provisions
- 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 7 Entry of goods on importation.
- 8 Spirits methylated abroad.
- 9 Lodgings for officers in charge of distillery.
- chapter II Value Added Tax
- 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Part II Income Tax, Corporation Tax and Capital Gains Tax
- Chapter I General
- Income tax rates and allowances
- 17 Rates and main allowances.
- 18 Relief for blind persons.
- Corporation tax rates
- 19 Charge and rate of corporation tax for 1990.
- 20 Small companies.
- Benefits in kind
- 21 Care for children.
- 22 Car benefits.
- Mileage allowances
- 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Charities
- 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 25 Donations to charity by individuals.
- 26 Company donations to charity.
- 27 Maximum qualifying company donations.
- Savings
- 28 Tax-exempt special savings accounts.
- 29 Extension of SAYE.
- 30 Building societies.
- Employee share ownership trusts
- 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 38 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Insurance companies and friendly societies
- 41 Apportionment of income etc.
- 42 Overseas life assurance business.
- 43 Deduction for policy holders’ tax.
- 44 Reinsurance commissions.
- 45 Policy holders’ share of profits etc.
- 46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 47 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 48 Transfers of long term business.
- 49 Friendly societies: increased tax exemption.
- 50 Friendly societies: application of enactments.
- Unit and investment trusts etc.
- 51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 52 Unit trusts: repeals.
- 53 Unit trust managers: exemption from bond-washing provisions.
- 54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 55 Investment trusts.
- Securities
- 56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 57 Deep gain securities.
- 58 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 59 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Oil industry
- 60 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 61 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 62 CT treatment of PRT repayment.
- 63 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 64 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- International
- 65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 66 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 67 Dual resident companies: controlled foreign companies.
- 68 Movements of capital between residents of member States.
- 69 European Economic Interest Groupings.
- 70 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Miscellaneous
- 71 Relief for interest.
- 72 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 73 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 74 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 75 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 76 Training and enterprise councils and local enterprise companies.
- 77 Expenses of entertainers.
- 78 Waste disposal.
- 79 Priority share allocations for employees etc.
- 80 Broadcasting: transfer of undertakings of Independent Broadcasting Authority and Cable Authority.
- 81 Futures and options: exemptions.
- 82 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 83 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 84 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 85 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 86 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 87 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 88 Capital allowances: miscellaneous amendments.
- 89 Correction of errors in Taxes Act 1988.
- Chapter II Management
- Returns and information
- 90 Income tax returns.
- 91 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 92 Information powers relating to interest.
- 93 Restrictions on Board’s power to call for information.
- 94 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Corporation tax determinations
- 95 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 96 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Claims by companies
- 97 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 98 Repayment of income tax deducted at source.
- 99 Loss relief.
- 100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 101 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 102 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 103 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Miscellaneous
- 104 Officers.
- 105 Recovery of excessive repayments of tax.
- 106 Corporation tax: collection.
- Part III Stamp Duty and Stamp Duty Reserve Tax
- Repeals
- 107 Stamp duty to be abolished on bearer instruments.
- 108 Transfer of securities: abolition of stamp duty.
- 109 Stamp duty: other repeals.
- 110 Stamp duty reserve tax: abolition.
- 111 General.
- Paired shares
- 112 Stamp duty.
- 113 Stamp duty reserve tax.
- International organisations
- 114 International organisations.
- Part IV Miscellaneous and General
- Ports levy
- 115 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 116 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 117 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 118 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 119 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 120 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Petroleum revenue tax
- 121 Limit on PRT repayment interest where loss carried back.
- 122 Variation, on account of fraudulent or negligent conduct, of decision on expenditure claim etc.
- Miscellaneous
- 123 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 124 Inheritance tax: restriction on power to require information.
- 125 Information for tax authorities in other member States.
- 126 Pools payments for football ground improvements.
- 127 Definition of “local authority” for certain tax purposes.
- 128 Repayment of fees and charges.
- 129 Settlement of stock disputes by deputy registrars.
- 130 Limit for local loans.
- General
- 131 Interpretation etc.
- 132 Repeals.
- 133 Short title.
- SCHEDULES
- SCHEDULE 1 Table of Rates of Duty on Wine and Made-Wine
- SCHEDULE 2 Vehicles Excise Duty: Rates
- Part II Amendments of Part I of Schedule 4 to the 1971 Act
- Part IV Tables Substituted in Part II of Schedule 4 to the 1971 Act and the 1972 Act
- SCHEDULE 3 Entry of Goods on Importation
- SCHEDULE 5 Building Societies and Deposit-Takers
- Introduction
- Building societies
- Deposit-takers
- General
- Management
- Transitional provision
- SCHEDULE 6 Life Assurance: Apportionment of Income etc.
- SCHEDULE 7 Overseas Life Assurance Business
- General
- Exemption for certain linked assets
- Replacement of assets
- Supplementary
- SCHEDULE 9 Insurance Companies: Transfers of Long Term Business
- Capital gains
- Accounting periods
- Expenses of management and losses
- Capital allowances
- Transfer to friendly society
- Commencement
- Part I Introduction
- Qualifying provision for redemption
- Qualifying convertible securities
- Events after issue
- Securities becoming subject to later options
- Other later events in relation to securities
- Deep gain
- Income period
- Redemption period
- Yield to redemption
- Transfer etc.
- Miscellaneous
- Part II Charge to Tax
- The charge
- Chargeable amount
- Total income element
- Income elements
- Death
- Market value
- Underwriters
- Trustees
- Receipts in United Kingdom
- Charities
- Retirement benefit schemes
- Stock lending
- Identification of securities
- Part III The Issuing Company
- Part IV Amendments
- (1) Deep discount securities
- (2) Deep gain securities
- (3) Corporate bonds
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Part V Application of Schedule
- SCHEDULE 11 European Economic Interest Groupings
- Taxation
- Management
- Commencement
- SCHEDULE 12 Broadcasting: Transfer of Undertakings of Independent Broadcasting Authority and Cable Authority
- Transfer of IBA’s transmission activities to nominated company: corporation tax
- Transfer of IBA’s assets to Commission and Radio Authority: chargeable gains
- Disposal by IBA of DBS assets to DBS programme contractor: chargeable gains
- Transfer of Cable Authority’s assets to Commission: chargeable gains
- Transfer of shares from Commission to Channel 4 company: chargeable gains
- Apportionment of unallowed capital losses between relevant transferees
- Roll-over relief in connection with nominated company
- Disputes as to apportionments etc.
- Securities of nominated company
- Interpretation
- SCHEDULE 13 Capital Allowances: Miscellaneous Amendments
- Hotels in enterprise zones: initial allowances
- Scientific research allowance: writing off of expenditure
- Disposal value of machinery or plant after succession to trade
- Non-resident companies: use of allowances
- Contributions: machinery and plant
- Sale of machinery or plant
- Assured tenancies allowance
- SCHEDULE 14 Amendments Correcting Errors in the Taxes Act 1988
- Part I Amendments of the Taxes Act 1988
- Part II Amendments of Other Enactments
- The Taxes Management Act 1970 (c. 9)
- The Oil Taxation Act 1975 (c. 22)
- The Capital Gains Tax Act 1979 (c. 14)
- The Finance Act 1981 (c. 35)
- Commencement
- Introductory
- Industrial buildings and structures
- Machinery and plant: general
- Machinery and plant: ships
- Machinery and plant: leased assets and inexpensive cars
- Machinery and plant: supplementary
- SCHEDULE 18 Definition of “Local Authority”
- SCHEDULE 19 REPEALS
- PART I CUSTOMS AND EXCISE
- PART II VEHICLES EXCISE DUTY
- PART III VALUE ADDED TAX
- PART IV INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
- PART V MANAGEMENT
- PART VI STAMP DUTY
- PART VII STAMP DUTY RESERVE TAX
- PART VIII NATIONAL SAVINGS
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