Finance Act 1999
Finance Act 1999 (1999 c. 16)
- Finance Act 1999 (1999 c. 16)
- Part I Excise duties
- Alcoholic liquor duties
- 1 Rate of duty on sparkling cider.
- Hydrocarbon oil duties
- 2 Rates of duty and rebate on hydrocarbon oil.
- 3 Increased rebate on higher octane unleaded petrol.
- 4 Drawback of duty on exportation.
- Tobacco products duty
- 5 Rates of tobacco products duty.
- Betting and gaming duties
- 6 Rate of pool betting duty.
- 7 Rates of gaming duty.
- Vehicle excise duty
- 8 The general rate of vehicle excise duty.
- 9 Rates of duty for goods vehicles.
- Goods shipped etc. as stores
- 10 Goods for sale on board ships or aircraft.
- 11 Drawback of duty on shipment.
- Part II Value added tax
- 12 Works of art, antiques, etc.
- 13 Gold.
- 14 Preparations etc. of meat, yeast or egg.
- 15 Assignment of debts.
- 16 Groups of companies.
- 17 Penalties for incorrect certificates.
- 18 EC sales statements: time limits for assessments to penalties.
- 19 Period before repayment supplement payable.
- 20 Meaning of “business”.
- 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Part III Income Tax, Corporation Tax and Capital Gains Tax
- Income tax rates and charge etc.
- 22 Starting rate.
- 23 Charge and rates for 1999-00.
- 24 Personal allowances for 1999-00 for those aged 65 or more.
- 25 Operative date of indexation for PAYE.
- Rates of capital gains tax
- 26 Rates of capital gains tax.
- Corporation tax charge and rates
- 27 Charge and main rate for financial year 2000.
- 28 Corporation tax starting rate.
- 29 Rate and fraction for corporation tax starting rate.
- Income tax reductions
- 30 Children’s tax credit.
- 31 Restriction of MCA to those reaching 65 before 2000-01.
- 32 Further provision about married couple’s allowance.
- 33 Abolition of existing relief in respect of children.
- 34 Abolition of widow’s bereavement allowance.
- 35 Order of income tax reductions etc.
- 36 Maintenance payments.
- Relief for interest payments
- 37 Limit on relief for interest.
- 38 Withdrawal of relief for interest on loans to buy land etc.
- 39 Withdrawal of relief for interest on new annuity loans.
- 40 Annuity loans: residence requirements and re-mortgages.
- 41 Repayments attracting repayment supplement.
- Employee benefits etc.
- 42 Conditional acquisition of shares.
- 43 Meaning of conditional interests in shares.
- 44 Exemption for mobile telephones.
- 45 Limited exemption for computer equipment.
- 46 PRP and agricultural pay.
- 47 Cars available for private use.
- 48 Provision and support of bus services.
- 49 Provision of motor cycle or cycle parking facilities.
- 50 Cycles and cyclist’s safety equipment.
- Members of parliaments and assemblies
- 51 EU travel expenses.
- 52 Scottish Parliament and devolved assemblies.
- Sub-contractors in the construction industry
- 53 Exemption certificates.
- Reverse premiums
- 54 Tax treatment of reverse premiums.
- Charities
- 55 Gifts in kind to charities etc.
- 56 Gifts of money to relieve refugee poverty.
- 57 Aggregation of money gifts for relief in poor countries.
- Education and training
- 58 Employees seconded to educational establishments.
- 59 Phasing out of vocational training relief.
- 60 Student loans: certain interest to be disregarded.
- Various other reliefs etc.
- 61 Class 1B National Insurance contributions.
- 62 Expenditure on film production and acquisition.
- 63 Treatment of transfer fees under existing contracts.
- Settlements
- 64 Income of unmarried child of settlor.
- Securities and investments
- 65 Relevant discounted securities.
- 66 Qualifying corporate bonds: provision consequential on s. 65.
- 67 Deep discount and deep gain securities.
- 68 Court common investment funds.
- Venture capital trusts
- 69 Company restructuring and convertible securities.
- 70 Relief on distributions.
- Enterprise investment scheme
- 71 Eligibility for EIS relief.
- 72 Deferred gains: application of taper relief.
- 73 Deferred gains: gain accruing on part disposal, etc.
- Chargeable gains
- 74 Value shifting: tax-free benefits.
- 75 Allowable losses where beneficiary absolutely entitled.
- 76 Concessions that defer a capital gains charge.
- Capital allowances
- 77 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 78 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- Pensions and insurance, etc.
- 79 Sharing of pensions on divorce, etc.
- 80 Purchased life annuities.
- 81 Acquisitions disregarded under insurance companies concession.
- 82 Lloyd’s: members’ agent pooling arrangements.
- 83 Provisions supplementary to s. 82.
- 84 Lloyd’s: roll-over relief.
- Advance pricing agreements and CFCs
- 85 Advance pricing agreements etc.
- 86 Provisions supplementary to s. 85.
- 87 Effect of section 85 agreements on non-parties.
- 88 Controlled foreign companies.
- Management and enforcement
- 89 Corporation tax: due and payable date.
- 90 Release or writing off of debt: interest on tax overpaid.
- 91 Advance corporation tax: consequences of abolition.
- 92 Group relief: consequences of reduction in surrenderable amount.
- 93 Company tax returns, etc.
- Part IV Oil Taxation
- 94 Excluded oil.
- 95 Sale and lease-back.
- 96 Transfer of field interest.
- 97 Provisions supplementary to ss. 95 and 96.
- 98 Qualifying assets.
- 99 PRT instalments.
- 100 Sale and lease-back: ring fence profits.
- 101 Pipe-line elections.
- 102 PRT returns.
- 103 Business assets: roll-over relief.
- Part V Inheritance tax
- 104 Gifts.
- 105 Delivery of accounts.
- 106 Power to call for documents etc.
- 107 Inland revenue charge.
- 108 Penalties.
- Part VI Stamp duty and stamp duty reserve tax
- Stamp duty
- 109 Interest and penalties on late stamping.
- 110 Interest on repayment of duty overpaid etc.
- 111 Stamp duty on conveyance or transfer on sale.
- 112 General amendment of charging provisions.
- 113 Bearer instruments.
- 114 Penalties other than on late stamping.
- 115 Minor amendments and repeal of obsolete provisions.
- Stamp duty reserve tax
- 116 Non-sterling bearer instruments issued in connection with merger or takeover.
- 117 Scope of exceptions for certain bearer instruments.
- 118 Relief in case of certain replacement securities.
- 119 Power to exempt UK depositary interests in foreign securities.
- 120 Minor amendments of exceptions to general charge.
- 121 Power to make regulations with respect to administration, etc.
- Units in unit trusts
- 122 Stamp duty and stamp duty reserve tax: unit trusts.
- Supplementary provisions
- 123 Construction of this Part and other supplementary provisions.
- Part VII Other taxes
- Landfill tax
- 124 Rate of landfill tax.
- Insurance premium tax
- 125 Rate of insurance premium tax.
- Customs duties
- 126 Interest on unpaid customs debts.
- 127 Interest on repayments.
- 128 Periods to be disregarded in determining interest under s. 127.
- 129 Repayment of overpaid interest etc.
- 130 Consequential amendments relating to interest.
- Part VIII Miscellaneous and Supplemental
- General administration of tax
- 131 Economic and monetary union: taxes and duties.
- 132 Power to provide for use of electronic communications.
- 133 Use of electronic communications under other provisions.
- Government borrowing etc.
- 134 The Debt Management Account.
- 135 Lending by Revenue Accounts to National Loans Fund.
- 136 Definition of Government Stock.
- 137 National Savings Bank: disclosure of information.
- Supplemental
- 138 Interpretation.
- 139 Repeals.
- 140 Short title.
- SCHEDULES
- SCHEDULE 1 Rates of vehicle excise duty for goods vehicles etc
- SCHEDULE 2 VAT: groups of companies
- Amendment of Value Added Tax Act 1994
- Transitional provisions
- SCHEDULE 3 New Schedule 13B to the Taxes Act 1988
- SCHEDULE 4 Withdrawal of relief for interest on loans to buy land etc.
- Amendments of Part IX of the Taxes Act 1988
- Other amendments
- Commencement
- SCHEDULE 5 Scottish Parliament and devolved assemblies: exemptions and reliefs
- Payments on dissolution, etc., or loss of office
- Payments in respect of overnight expenses or EU travel
- Office-holders’ transport and subsistence
- Trustees’ income from parliamentary pension funds
- Relevant statutory schemes
- Pensions of members of the Scottish Executive
- SCHEDULE 6 Tax treatment of receipts by way of reverse premium
- Application of this Schedule
- Tax treatment of receipts by way of reverse premium
- Arrangements not at arm’s length
- Special rules for insurance companies carrying on life assurance business
- Exclusion of receipts taken into account for capital allowances
- ...
- Exclusion of consideration under sale and lease-back arrangement
- Connected persons and relevant arrangements
- SCHEDULE 7 Application of taper relief to EIS deferred gains
- Introductory
- Paragraph 4
- Paragraph 19
- Consequential amendments
- SCHEDULE 9 Chargeable gains: value shifting and tax-free benefits
- SCHEDULE 10 Sharing of pensions etc. on divorce or annulment
- Definition of “pension business”
- Approval of retirement benefit schemes
- Discretionary approval of retirement benefit schemes
- Non-approved retirement benefit schemes
- Charge on pensions commuted in special circumstances
- Charge on unauthorised payments
- Definition of “retirement benefits scheme”
- Interpretation of Chapter I
- Overseas pensions
- Rules prohibiting surrender or assignment of annuities etc.
- Annuity payable on the death of a member
- Rule in section 636A prohibiting assignment or surrender
- Meaning of “relevant earnings”
- Purchased life annuities
- Interpretation of Part XIV
- Commencement etc.
- SCHEDULE 11 Company tax returns, etc: minor and consequential amendments
- Income and Corporation Taxes Act 1988 (c. 1)
- Finance Act 1989 (c. 26)
- Capital Allowances Act 1990 (c. 1)
- Finance Act 1994 (c. 9)
- Finance Act 1998 (c. 36)
- SCHEDULE 12 Stamp duty: interest and penalties on late stamping
- Stamp Act 1891 (c.39)
- Finance Act 1994 (c.9)
- SCHEDULE 13 Stamp duty: instruments chargeable and rates of duty
- Part I Conveyance or transfer on sale
- Charge
- Rates of duty
- Meaning of instrument being certified at an amount
- Contracts or agreements chargeable as conveyances on sale
- Part II Lease
- Charge
- Rates of duty
- Agreement for a lease charged as a lease
- Lease for fixed term and then until determined
- Part III Other instruments
- ...
- ...
- Dispositions in Scotland
- Duplicate or counterpart
- Instrument increasing rent
- Partition or division
- ...
- ...
- Part IV General exemptions
- SCHEDULE 14 Stamp duty: amendments consequential on section 112
- General amendments
- Finance Act 1930 (c.28)
- Finance Act (Northern Ireland) 1954 (c.23 (N.I.))
- Finance Act 1970 (c.24)
- Finance Act 1980 (c.48)
- Finance Act 1982 (c.39)
- Finance Act 1985 (c.54)
- Finance Act 1986 (c.41)
- Finance Act 1987 (c.16)
- Finance Act 1989 (c.26)
- National Health Service and Community Care Act 1990 (c.19)
- Finance Act 1991 (c.31)
- Finance Act 1993 (c.34)
- Finance Act 1994 (c.9)
- Finance Act 1995 (c.4)
- SCHEDULE 15 Stamp duty: bearer instruments
- Part I Charging provisions
- ...
- Charge on transfer of stock by means of instrument
- Meaning of “bearer instrument”
- Rates of duty
- Ascertainment of market value
- Meaning of “deposit certificate”
- Bearer instruments by usage
- Meaning of “company”, “UK company” and “non-UK company”
- Meaning of “stock” and “transfer”
- Part II Exemptions
- Substitute instruments
- Foreign loan securities
- Stock exempt from duty on transfer
- Instruments in respect of which duty previously abolished
- Renounceable letters of allotment
- Instruments relating to non-sterling stock
- Variation of original terms or conditions
- Part III Supplementary provisions
- ...
- Duty chargeable on transfer of stock by means of instrument
- Supplementary provisions as to interest
- Penalty for false statement
- SCHEDULE 16 Stamp duty: amendments consequential on section 113
- General amendment
- Finance Act 1963 (c.25)
- Finance Act 1976 (c.40)
- Finance Act 1984 (c.43)
- Finance Act 1986 (c.41)
- Finance Act 1987 (c.16)
- Finance Act 1988 (c.39)
- Finance Act 1990 (c.29)
- SCHEDULE 17 Stamp duty: penalties other than on late stamping
- Part I Amendments of penalties
- Introduction
- Stamp Duties Management Act 1891 (c.38)
- Stamp Act 1891 (c.39)
- Finance Act 1946 (c.64)
- Finance (No. 2) Act (Northern Ireland) 1946 (c.17 (N.I.))
- Finance Act 1963 (c.25)
- Finance Act (Northern Ireland) 1963 (c.22 (N.I.))
- Finance Act 1986 (c.41)
- Part II Determination of penalty, reviews and appeals
- Introduction
- Determination of penalty by officer of Commissioners
- Penalty proceedings before the court
- Supplementary provisions
- Part III Power to apply provisions as to collection and recovery etc
- SCHEDULE 18 Stamp duty: minor amendments and repeal of obsolete provisions
- Part I Minor amendments
- Introduction
- Payment by cheque
- Admissibility of evidence not affected by offer of settlement, etc.
- References to duration of lease
- Part II Obsolete provisions
- SCHEDULE 19 Stamp duty and stamp duty reserve tax: unit trusts
- Part I Abolition of stamp duty on transfers etc. of units in unit trusts
- Part II Stamp duty reserve tax on dealings with units in unit trusts
- Charge to tax
- Rate of tax
- Proportionate reduction of tax by reference to units issued
- Proportionate reduction of tax by reference to assets held
- Exclusion of charge in certain cases of change of ownership
- Exclusion of charge in case of individual pension accounts
- Exclusion of charge in case of in specie redemption
- Interpretation
- Transitional provision
- Part III Minor and consequential amendments
- Finance Act 1986 (c.41)
- Finance Act 1995 (c.4)
- Part IV General definitions
- Meaning of “unit trust scheme” and related expressions
- Schemes not treated as unit trust schemes
- Treatment of umbrella schemes
- References to stock in stamp duty enactments include units under unit trust scheme
- SCHEDULE 20 Repeals
- Part I Excise duties
- Part II Value added tax
- Part III Income tax, corporation tax and capital gains tax
- Part IV Oil taxation
- Part V Stamp duty and stamp duty reserve tax
- Part VI Interest on customs duty etc
- Part VII Electronic communications
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