Finance Act 1980

Part IIIU.K. Income Tax, Corporation Tax and Capital Gains Tax

Chapter IU.K. General

18–56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1U.K.

57 Registered friendly societies and trade unions.U.K.

(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2

(2)The M1Friendly Societies Act (Northern Ireland) 1970 and the M2Friendly Societies Act 1974 shall be amended as follows—

[F3(a)in section 1(3A) of the said Act of 1970 and in section 7(3A) of the said Act of 1974 (registration of societies) for “£1,000” and “£208” there shall be substituted respectively “ £2,000 ” and “ £416 ”; and]

(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2

(3)(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4

58. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5U.K.

59, 60.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6U.K.

61 Dates for payment of tax.U.K.

(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7

F8(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)In paragraph 3 in the second column of the Table in section 86(4) of the Taxes Management Act 1970 (reckonable date for interest on unpaid tax) for the words “The 1st January following the end of the year of assessment” there shall be substituted the words “The 1st June following the 1st December mentioned in section 4(3) of the principal Act”and in paragraph 4 in the second column of that Table for the words “The 1st January following the end of the year of assessment” there shall be substituted the words “The 1st June following the 1st December mentioned in section 7 of the Capital Gains Tax Act 1979.”

(4)In section 88(5)(c) and (d) of the Taxes Management Act 1970 (interest on tax recovered to make good loss due to taxpayer’s fault) and paragraph 6(2) of Schedule 16 to the Finance Act 1972 (liability for tax on apportioned income) for the words “6th July” there shall be substituted the words “1st December”.

(5)This section has effect in relation to tax for the year 1980-81 and subsequent years of assessment.

[F962 Interest on unpaid tax.U.K.

(1)In the provisions mentioned in subsection (2) below (remission of interest on unpaid tax where the amount of interest does not exceed £10) for “£10” there shall be substituted “ £30 ”.

(2)The provisions referred to above are—

(a)section 86(6) of the Taxes Management Act 1970 (income tax, corporation tax and capital gains tax);

(b)section 87(4) of that Act (advance corporation tax and income tax on company payments); and

(c)section 87(3) of that Act as originally enacted (income tax on company distributions).

(3)This section has effect in relation to interest on tax charged by assessments notice of which is issued after the passing of this Act.]

63. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10U.K.

Chapter IIU.K. Capital Allowances

64–69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11U.K.

70

(1)(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F13

(4)–(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F14

71–76. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F15U.K.

Chapter IIIU.K. Capital Gains

F1677. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F1778. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F1879. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F1980. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2081. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F21U.K.

F2283. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2384. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.