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The Ports (Levy on Disposals of Land, etc.) Order (Northern Ireland) 1997

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  1. Introductory Text

  2. 1.Title and commencement

  3. 2.Interpretation

  4. 3.Relevant estate in land — specified description

  5. 4.Time of disposal

  6. 5.Person making disposal

  7. 6.Chargeable disposals

  8. 7.Accrual of gains

  9. 8.Computation of gains

  10. 9.Miscellaneous modifications of tax provisions as applied

  11. 10.Market values — disputes

  12. 11.Appropriation to trading stock

  13. 12.Claims and elections — special cases

  14. 13.Payment of levy — general

  15. 14.Payment of levy — Article 8(3) and 8(5) cases

  16. 15.Interest

  17. 16.Payment notice

  18. 17.Repayment — error, mistake or recomputation

  19. 18.Leases at rents — grant

  20. 19.Leases at rents — subsequent disposals of reversions

  21. 20.Leases at rents — early termination, renewal or extension

  22. 21.Leases at rents — holding over and tacit relocation

  23. 22.Leases — adjustment of levy

  24. 23.Leases at rents — levy payable by instalments

  25. 24.Leases — early termination

  26. 25.Operational leases

  27. 26.Leases — supplementary

  28. 27.Options — computation of gains

  29. 28.Options — payment of levy

  30. 29.Options — subsequent exercise

  31. 30.Option lapsing — recomputation

  32. 31.Option lapsing — supplementary

  33. 32.Option lapsing etc. — repayment

  34. 33.Disposals within wholly-owned group

  35. 34.Company ceasing to be member of group

  36. 35.Decrease in equity holding

  37. 36.Disposal statements

  38. 37.Assessment

  39. 38.Referee

  40. 39.Supplementary requirements

  41. 40.Service of documents

  42. 41.Penalties

  43. Signature

    1. SCHEDULE 1

      Meaning of Associated Disposal

      1. 1.For the purposes of this Order, a disposal of relevant...

      2. 2.Subject to paragraph 3, for the purposes of paragraph 1(a),...

      3. 3.A disposal is not reasonably to be regarded as connected...

      4. 4.For the purposes of paragraphs 2 and 3, any question...

    2. SCHEDULE 2

      Modification of Tax Provisions Applying to Levy

      1. 1.Section 21(7) of the 1992 Act shall not apply for...

      2. 2.Section 23(4) of the 1992 Act shall apply for the...

      3. 3.Sections 35 and 36 of, and Schedules 3 and 4...

      4. 4.Section 37(1) of the 1992 Act shall not apply for...

      5. 5.(1) Subject to sub-paragraph (2), section 38(1)(a) of the 1992...

      6. 6.(1) In the application, for the purposes of Article 19...

      7. 7.Section 39(1) and (2) of the 1992 Act shall not...

      8. 8.Sections 48 and 49(2) of the 1992 Act shall apply...

      9. 9.(1) In the application for the purposes of Article 19...

      10. 10.(1) Section 54 of the 1992 Act shall apply for...

      11. 11.Sections 139 and 140 of the 1992 Act shall not...

      12. 12.Sections 152 to 158 and 247 of the 1992 Act...

      13. 13.Section 243(4) of the 1992 Act shall apply for the...

      14. 14.Section 250 of the 1992 Act shall not apply for...

    3. SCHEDULE 3

      Disposal Statements

      1. 1.Totals for disposal period

      2. 2.Individual relevant disposals

      3. 3.There shall be given the date of the disposal and...

      4. 4.A description shall be given of the relevant land or...

      5. 5.A summary of the terms of the disposal shall be...

      6. 6.In the case of a disposal other than a section...

      7. 7.In the case of a disposal which is not a...

      8. 8.In the case of a section 178 or 179 disposal...

      9. 9.The amount of the gain accruing on the disposal shall...

      10. 10.There shall be given— (a) the amount of the levy...

      11. 11.Further information

      12. 12.If a disposal on which by virtue of Article 8(2)...

      13. 13.If in the period between the end of any previous...

      14. 14.If an instalment under Article 23 is payable on the...

      15. 15.Interpretation

      16. 16.In this Schedule references to an independent valuer are references...

  45. Explanatory Note

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