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Finance Act 1990
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- UK Public General Acts
- 1990 c. 29
- Part II
- Chapter I
- Miscellaneous
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MiscellaneousU.K.
71 Relief for interest.U.K.
For the year 1990-91 the qualifying maximum defined in section 367(5) of the Taxes Act 1988 (limit on relief for interest on certain loans) shall be £30,000.
F172. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F1S. repealed (6.3.1992 with effect as mentioned in s. 289 (1)(2) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), s. 290, Sch.12 (with ss. 60, 101(1), 201(3), Sch. 11 paras. 22, 26(2), 27).
F273. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F2S. 73 repealed (3.5.1994 with effect in relation to shares issued on or after 1st January 1994) by 1994 c. 9, s. 258, Sch. 26 Pt. V(17) Note
F374. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F475. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F4S. 75 repealed (3.5.1994) by 1994 c. 9, s. 258, Sch. 26 Pt. V(21)
F576 Training and enterprise councils and local enterprise companies.U.K.
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Textual Amendments
F5S. 76 repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
F677 Expenses of entertainers.U.K.
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Textual Amendments
F6S. 77 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)
F778 Waste disposal.U.K.
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Textual Amendments
F7S. 78 repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
F879 Priority share allocations for employees etc.U.K.
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Textual Amendments
F8S. 79 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)
80 Broadcasting: transfer of undertakings of Independent Broadcasting Authority and Cable Authority.U.K.
Schedule 12 to this Act shall have effect.
81 Futures and options: exemptions.U.K.
(1)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)The following section shall be inserted at the end of Part XIV of the Taxes Act 1988 (pension schemes etc.)—
“659A Futures and options.
(1)For the purposes of sections 592(2), 608(2)(a), 613(4), 614(3) and (4), 620(6) and 643(2)—
(a)“investments” (or “investment”)
includes futures contracts and options contracts, and
(b)income derived from transactions relating to such contracts shall be regarded as income derived from (or income from) such contracts,
and paragraph 7(3)(a) of Schedule 22 to this Act shall be construed accordingly.
(2)For the purposes of subsection (1) above a contract is not prevented from being a futures contract or an options contract by the fact that any party is or may be entitled to receive or liable to make, or entitled to receive and liable to make, only a payment of a sum (as opposed to a transfer of assets other than money) in full settlement of all obligations.”
F10(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)Section 659 of the Taxes Act 1988 (financial futures and traded options) shall cease to have effect.
(5)Subsections (1) and (2) above apply in relation to income derived after the day on which this Act is passed.
F10(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)Insofar as section 659 of the Taxes Act 1988 relates to provisions of that Act, subsection (4) above applies in relation to income derived after the day on which this Act is passed.
(8)Insofar as section 659 of the Taxes Act 1988 relates to section 149B of the M1Capital Gains Tax Act 1979, subsection (4) above applies in relation to disposals made after the day on which this Act is passed.
Textual Amendments
F9S. 81(1) repealed (with effect as mentioned in s. 83(3) of the repealing Act) by Finance Act 2002 (c. 23), s. 141, Sch. 40 Pt. 3(13)
F10S. 81(3)(6) repealed (6.3.1992 with effect as mentioned in s. 289(1)(2) of the repealing Act) by Taxation of Chargeable Gains Act 1992 (c. 12), ss. 289, 290, Sch. 12 (with ss. 60, 101(1), 201(3), Sch. 11 paras. 20, 22, 26(2), 27)
Marginal Citations
F1182. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F11S. 82 repealed (1.5.1995 with effect for the year 1995-1996 and subsequent years of assessment) by 1995 c. 4, s. 162, Sch. 29 Pt. VIII(8) Note
F1283. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F1384. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F1485. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F1586. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
F1687. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
Textual Amendments
88 Capital allowances: miscellaneous amendments.U.K.
Schedule 13 to this Act shall have effect.
89 Correction of errors in Taxes Act 1988.U.K.
Schedule 14 to this Act shall have effect.
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