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Finance (No. 2) Act 1979

Status:

This is the original version (as it was originally enacted).

  1. Introductory Text

  2. PART I Value Added Tax and Excise Duties

    1. 1.Increase of value added tax

    2. 2.Hydrocarbon oil etc.

    3. 3.Tobacco products

    4. 4.Continuation of regulator powers

  3. PART II Income Tax, Corporation Tax and Capital Gains Tax

    1. 5.Charge of income tax for 1979-80

    2. 6.Rate of advance corporation tax for financial year 1979

    3. 7.Corporation tax: small companies

    4. 8.Alteration of personal reliefs

    5. 9.Exemption of pensions in respect of death due to war service etc.

    6. 10.Relief for interest: extension of transitional provisions

    7. 11.Withdrawal of child tax allowances: consequential provisions

    8. 12.Social Security Pensions Act: consequential provisions

    9. 13.Relief for increase in stock values

    10. 14.Capital allowances: motor vehicles

    11. 15.Deduction rate for sub-contractors in the construction industry

    12. 16.United States Double Taxation Convention

    13. 17.Compensation for delay in national savings payments

  4. PART III Petroleum Revenue Tax

    1. 18.Increase of rate

    2. 19.Reduction of uplift for allowable expenditure

    3. 20.Extension of allowable expenditure

    4. 21.Reduction of oil allowance and metrication of measurements

    5. 22.Taxation of British National Oil Corporation

  5. PART IV Miscellaneous and Supplementary

    1. 23.Capital transfer tax: extension of transitional relief

    2. 24.Development land tax

    3. 25.Short title, interpretation, construction and repeals

  6. SCHEDULES

    1. SCHEDULE 1

      Withdrawal of Child Tax Allowances : Consequential Provisions

      1. Relative taking charge of unmarried person's young brother or sister

        1. 1.Section 13 of the Taxes Act shall cease to have...

      2. Additional personal allowance

        1. 2.(1) Section 14 of the Taxes Act shall be amended...

        2. 3.After section 14 of the Taxes Act there shall be...

      3. Exemption of social security benefits in respect of children etc.

        1. 4.(1) In section 219(1)(a) of the Taxes Act the word...

    2. SCHEDULE 2

      Social Security Pensions Act : Consequential Provisions

      1. 1.For section 8(2)(b) of the Taxes Act (under which wife's...

      2. 2.In section 16 of the Taxes Act (dependent relative relief...

      3. 3.In section 219(1)(a) of the Taxes Act (benefits charged to...

      4. 4.In section 526(5) of the Taxes Act (interpretation) after the...

      5. 5.In paragraph 1 of Schedule 4 to the Finance Act...

    3. SCHEDULE 3

      Stock Relief

      1. Amount of stock relief

        1. 1.(1) In paragraph 1(2) of Schedule 5 to the Finance...

      2. Claims for partial relief

        1. 2.(1) In paragraph 1(2) of the said Schedule 5 after...

      3. Write-off of past relief

        1. 3.(1) In sub-paragraph (2) of paragraph 26 of the said...

    4. SCHEDULE 4

      Development Land Tax

      1. 1.In paragraph 1 of Schedule 7 to the Development Land...

      2. 2.(1) In paragraph 5 of that Schedule (the formula deduction)...

      3. 3.In paragraph 7(3) of that Schedule (application of formula deduction...

      4. 4.In paragraphs 35(1) and 38(3) of Schedule 8 to that...

    5. SCHEDULE 5

      Repeals

      1. PART I Value Added Tax

      2. PART II Income Tax and Corporation Tax

      3. PART III Petroleum Revenue Tax

      4. PART IV Development Land Tax

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