Finance Act 1990

Changes to legislation:

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Chapter IU.K. General

Income tax rates and allowancesU.K.

F117 Rates and main allowances.U.K.

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Textual Amendments

F1S. 17 repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)

F218 Relief for blind persons.U.K.

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Textual Amendments

F2S. 18 repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)

Corporation tax ratesU.K.

19 Charge and rate of corporation tax for 1990.U.K.

Corporation tax shall be charged for the financial year 1990 at the rate of 35 per cent.

Modifications etc. (not altering text)

C1S. 19 excluded by Finance Act 1991 (c. 31, SIF 63:1), s. 23(1).

F320 Small companies.U.K.

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Textual Amendments

F3S. 20 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

Benefits in kindU.K.

F421 Care for children.U.K.

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Textual Amendments

F4S. 21 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)

22 Car benefits.U.K.

(1)In Schedule 6 to the Taxes Act 1988 (taxation of directors and others in respect of cars) for Part I (tables of flat rate cash equivalents) there shall be substituted—

“Part IU.K. Tables of Flat Rate Cash Equivalents

Table A

Cars with an original market value up to £19,250 and having a cylinder capacity

Cylinder capacity of car in cubic centimetres	Age of car at end of relevant year of assessment
	Under 4 years	4 years or more
1400 or less	£1,700	£1,150
More than 1400 but not more than 2000	£2,200	£1,500
More than 2000	£3,550	£2,350

Table B

Cars with an original market value up to £19,250 and not having a cylinder capacity

Original market value of car	Age of car at end of relevant year of assessment
	Under 4 years	4 years or more
Less than £6,000	£1,700	£1,150
£6,000 or more but less than £8,500	£2,200	£1,500
£8,500 or more but not more than £19,250	£3,550	£2,350

Table C

Cars with an original market value of more than £19,250

Original market value of car	Age of car at end of relevant year of assessment
(2) This section shall have effect for the year 1990-91 and subsequent years of assessment.”
	Under 4 years	4 years or more
More than £19,250 but not more than £29,000	£4,600	£3,100
More than £29,000	£7,400	£4,900

Mileage allowancesU.K.

F523. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F5S. 23 repealed (11.5.2001 with effect for the year 2002-03 and subsequent years of assessment) by 2001 c. 9, s. 110, Sch. 33 Pt. 2(1)

CharitiesU.K.

F624. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F6S. 24 repealed (27.07.1993 with effect for the year 1993-94 and subsequent years of assessment) by 1993 c. 34, s. 213, Sch. 23 Pt. III.

25 Donations to charity by individuals.U.K.

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

F7(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(3A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5B). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5C). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5D). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5E). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5F). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5G). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5H). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5I). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(5J). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7(9A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F8(10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F9(10A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F10(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F11(12). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(13). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F7S. 25(1)-(9A) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 284(2), Sch. 3 Pt. 1 (with Sch. 2 para. 98)

F8S. 25(10) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 220, Sch. 3 Pt. 1 (with Sch. 2)

F9S. 25(10A) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F10S. 25(11) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 284(2), Sch. 3 Pt. 1 (with Sch. 2 para. 98)

F11S. 25(12) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 220, Sch. 3 Pt. 1 (with Sch. 2)

F12S. 25(13) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 284(2), Sch. 3 Pt. 1 (with Sch. 2 para. 98)

F1326 Company donations to charity.U.K.

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Textual Amendments

F13S. 26 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

27 Maximum qualifying company donations.U.K.

F14(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F15(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F14(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F14S. 27(1)(3) repealed(for accounting periods beginning on or after 19.03.1991) by Finance Act 1991 (c. 31, SIF 63:1), s. 123, Sch. 19 Pt.V Note 5.

F15S. 27(2) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F16S. 27(4) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

SavingsU.K.

28 Tax-exempt special savings accounts.U.K.

F17(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F17(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F18 F17(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F17S. 28(1)-(3) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)

F18S. 28(3) 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F1929 Extension of SAYE.U.K.

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Textual Amendments

F19S. 29 repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)

30 Building societies.U.K.

Schedule 5 to this Act (which contains provisions relating to building societies, deposit-takers and investors) shall have effect.

Employee share ownership trustsU.K.

F2031. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F20Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F2132. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F21Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F2233. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F22Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F2334. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F23Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F2435. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F24Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F2536. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F25Ss. 31-40 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, 201(3), Sch. 11 paras. 20,22, 26(2), 27).

F2637. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F26Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F2738. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F27Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F2839. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F28Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

F2940. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F29Ss. 31-40 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, 201(3), Sch. 11 paras. 22, 26(2), 27).

Insurance companies and friendly societiesU.K.

F3041 Apportionment of income etc.U.K.

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Textual Amendments

F30S. 41 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(b)(i)

F3142 Overseas life assurance business.U.K.

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Textual Amendments

F31S. 42 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(b)(i)

F3243 Deduction for policy holders’ tax.U.K.

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Textual Amendments

F32S. 43 repealed (with effect in accordance with Sch. 43 Pt. 3(12) Note 1 of the amending Act) by Finance Act 2003 (c. 14), Sch. 43 Pt. 3(12)

F3344 Reinsurance commissions.U.K.

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Textual Amendments

F33S. 44 repealed (with effect in accordance with s. 42 of the amending Act) by Finance Act 2004 (c. 12), Sch. 42 Pt. 2(3)

45 Policy holders’ share of profits etc.U.K.

F34(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F34(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F34(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F34(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F35(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F36(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F34(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F37(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F38(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F39(10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F39(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F34S. 45(1)-(7) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(b)(ii)

F35S. 45(5) repealed (with effect in accordance with Sch. 43 Pt. 3(12) Note 7 of the amending Act) by Finance Act 2003 (c. 14), Sch. 43 Pt. 3(12)

F36S. 45(6) repealed (31.7.1998 with effect in accordance with Schedule 3 to the amending Act) by 1998 c. 36, s. 165, Sch. 27 Pt.(2) Note

F37S. 45(8) repealed (1.5.1995 with effect as mentioned in Sch. 8 paras. 55-57 of the amending Act) by 1995 c. 4, s. 162, Sch. 29 Pt. VIII

F38S. 45(9) repealed (31.7.1997 with effect in accordance with the provisions of Sch. 3 to the amending Act, other than para. 11) by 1997 c. 58, s. 52, Sch. 8 Pt. II (6) Note (with s. 3(3))

F39S. 45(10)(11) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(b)(ii)

F4046. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F40S. 46 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, 201(3), Sch. 11 paras. 22, 26(2), 27) (and expressed to be modified (31.7.1992) by S.I. 1992/1655, arts. 1, 19(1)); and expressed to be excluded (27.7.1993) by 1993 c. 34, s. 91(1).

F4147. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F41S. 47 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).

F4248 Transfers of long term business.U.K.

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Textual Amendments

F42S. 48 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 247(b)(iii)

49 Friendly societies: increased tax exemption.U.K.

F43(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F43(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F43(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F43(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)In paragraph 3(8)(b)(ii) of Schedule 15 to that Act (amount of premiums to be disregarded in determining whether a policy meets conditions for it to be a qualifying policy), after the word “premiums” there shall be inserted the words “ or, where those premiums are payable otherwise than annually, an amount equal to 10 per cent. of those premiums if that is greater ”.

Textual Amendments

F43S. 49(1)-(4) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 18 para. 23(a)(i)

F4450 Friendly societies: application of enactments.U.K.

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Textual Amendments

F44S. 50 omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 18 para. 23(a)(ii)

Unit and investment trusts etc.U.K.

F4551. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F45S. 51 repealed (29.4.1996 with effect for the year 1996-1997 and subsequent years of assessment) by 1996 c. 8, ss. 73, 205, Sch. 6, Sch. 41 Pt. V(1) Note 1

52 Unit trusts: repeals.U.K.

(1)The Taxes Act 1988 shall have effect subject to the following provisions of this section.

(2)In section 468 (authorised unit trusts) subsection (5) shall not apply as regards a distribution period beginning after 31st December 1990.

(3)Where a particular distribution period is by virtue of subsection (2) above the last distribution period as regards which section 468(5) applies in the case of a trust, the trustees’ liability to income tax in respect of any source of income chargeable under Case III of Schedule D shall be assessed as if they had ceased to possess the source of income on the last day of that distribution period.

(4)But where section 67 of the Taxes Act 1988 applies by virtue of subsection (3) above, it shall apply with the omission from subsection (1)(b) of the words from “and shall” to “this provision”.

(5)Section 468B (certified unit trusts: corporation tax) shall not apply as regards an accounting period ending after 31st December 1990.

(6)Section 468C (certified unit trusts: distributions) shall not apply as regards a distribution period ending after 31st December 1990.

(7)Section 468D (funds of funds: distributions) shall not apply as regards a distribution period ending after 31st December 1990.

(8)In this section “distribution period” has the same meaning as in section 468 of the Taxes Act 1988.

F4653 Unit trust managers: exemption from bond-washing provisions.U.K.

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Textual Amendments

F46S. 53 omitted (with effect in accordance with s. 66(8) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 66(4)(b)

F4754. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F47S. 54 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).

F4855 Investment trusts.U.K.

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Textual Amendments

F48S. 55 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

SecuritiesU.K.

F4956. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F49S. 56 repealed (29.4.1996 with effect in accordance with the provisions of Chapter II of Part IV of the amending Act) by 1996 c. 8, ss. 105, 205, Sch. 41 Pt. V(3) Note

[F5057 Deep gain securities.U.K.

(1)In Schedule 11 to the M1Finance Act 1989 (deep gain securities) paragraph 1 (meaning of deep gain security) shall be amended as follows.

(2)The following sub-paragraph shall be inserted after sub-paragraph (3)—

“(3A)In the case of a security issued on or after 9th June 1989, for the purposes of sub-paragraph (2) above “redemption” does not include any redemption which may be made before maturity only if—

(a)the person who issued the security fails to comply with the duties imposed on him by the terms of issue,

(b)the person who issued the security becomes unable to pay his debts, or

(c)the security was issued by a company and a person gains control of the company in pursuance of the acceptance of an offer made by that person to acquire shares in the company.”

(3)The amendment made by this section shall be deemed always to have had effect.]

Textual Amendments

F50S. 57 repealed (retrospectively and to be taken always to have had effect) by Finance (No. 2) Act 1992 (c. 48), ss. 33, 82, Sch. 7 para. 7 Sch. 18 Pt.VII (made 16.7.1992).

Marginal Citations

M11989 c. 26.

F5158. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F51S. 58 repealed (29.4.1996 with effect in accordance with the provisions of Chapter II of Part IV of the amending Act) by 1996 c. 8, ss. 105, 205, Sch. 41 Pt. V(3) Note

F5259. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F52S. 59 repealed (29.4.1996 with effect in accordance with the provisions of Chapter II of Part IV of the amending Act) by 1996 c. 8, ss. 105, 205, Sch. 41 Pt. V(3) Note

Oil industryU.K.

F5360. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F53S. 60 repealed (22.3.2001 with effect as mentioned in s. 579(1) of the repealing Act) by 2001 c. 2, s. 580, Sch. 4

F5461. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F54S. 61 repealed (for losses incurred in accounting periods ending on or after 01.04.1991) by Finance Act 1991 (c. 31, SIF 63:1), s. 123, Sch. 19 Pt.V Note 4(c).

62 CT treatment of PRT repayment.U.K.

F55(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F55(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F56 F57(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F55S. 62(1)(2) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F56S. 62(3) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)Text here

F57S. 62(3) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 6 (with Sch. 9 paras. 1-9, 22)

F5863. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F58Ss. 63-65 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).

F5964. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F59Ss. 63-65 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).

InternationalU.K.

F6065. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F60Ss. 63-65 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).

F6166. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F61S. 66 repealed (3.5.1994 with effect in accordance with s. 251 of the amending Act) by 1994 c. 9, ss. 251, 258, Sch. 26 Pt. VIII (1) Note

67 Dual resident companies: controlled foreign companies.U.K.

F62(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F62(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)In Schedule 25 to that Act—

(a)paragraphs 2(1)(c) and 4(1)(c) shall be omitted,

F63(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F63(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)Subsections (1) and (2) above shall apply on and after 20th March 1990 and subsection (3) above shall apply to dividends paid on or after that date.

Textual Amendments

F62S. 67(1)(2) repealed (3.5.1994 with effect in accordance with section 251 of the amending Act) by 1994 c. 9, ss. 251, 258, Sch. 26 Pt. VIII(1) Note

F63S. 67(3)(b)(c) omitted (with effect in accordance with Sch. 16 para. 6 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 16 para. 5(a) (with Sch. 16 paras. 7 8)

68 Movements of capital between residents of member States.U.K.

F64(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F64(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)M2In section 98 of the Taxes Management Act 1970 (penalties for failure to furnish information and for false information)—

(a)in subsection (1), after the words “Subject to” there shall be inserted the words “ the provisions of this section and ”;

F65(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F65(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F65(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)This section shall apply to transactions carried out on or after 1st July 1990.

Textual Amendments

F64S. 68(1)(2) omitted (with effect in accordance with Sch. 17 para. 13 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 17 para. 3(b)

F65S. 68(3)(b)-(d) omitted (with effect in accordance with Sch. 17 para. 13 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 17 para. 3(b)

Marginal Citations

M21970 c. 9.

69 European Economic Interest Groupings.U.K.

Schedule 11 to this Act (which makes provision about the taxation of income and gains in the case of European Economic Interest Groupings) shall have effect.

F6670. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F66S. 70 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).

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.

F6772. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F67S. 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).

F6873. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F68S. 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

F6974. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F69S. 74 repealed (29.4.1996 with effect in accordance with the provisions of Chapter II of Part IV of the amending Act) by 1996 c. 8, ss. 105, 205, Sch. 41 Pt. V(3) Note

F7075. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F70S. 75 repealed (3.5.1994) by 1994 c. 9, s. 258, Sch. 26 Pt. V(21)

F7176 Training and enterprise councils and local enterprise companies.U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F71S. 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)

F7277 Expenses of entertainers.U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F72S. 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)

F7378 Waste disposal.U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F73S. 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)

F7479 Priority share allocations for employees etc.U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F74S. 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)F75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(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.”

F76(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.

F76(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 M3Capital Gains Tax Act 1979, subsection (4) above applies in relation to disposals made after the day on which this Act is passed.

Textual Amendments

F75S. 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)

F76S. 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

M31979 c. 14.

F7782. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F77S. 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

F7883. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F78Ss. 83-86 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).

F7984. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F79Ss. 83-86 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).

F8085. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F80Ss. 83-86 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).

F8186. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F81Ss. 83-86 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).

F8287. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F82S. 87 repealed (22.3.2001 with effect as mentioned in s. 579(1) of the repealing Act) by 2001 c. 2, s. 580, Sch. 4

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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Chapter IU.K. General

Income tax rates and allowancesU.K.

F117 Rates and main allowances.U.K.

F218 Relief for blind persons.U.K.

Corporation tax ratesU.K.

19 Charge and rate of corporation tax for 1990.U.K.

F320 Small companies.U.K.

Benefits in kindU.K.

F421 Care for children.U.K.

22 Car benefits.U.K.

“Part IU.K. Tables of Flat Rate Cash Equivalents

Table A

Cars with an original market value up to £19,250 and having a cylinder capacity

Table B

Cars with an original market value up to £19,250 and not having a cylinder capacity

Table C

Cars with an original market value of more than £19,250

Mileage allowancesU.K.

F523. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

CharitiesU.K.

F624. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

25 Donations to charity by individuals.U.K.

F1326 Company donations to charity.U.K.

27 Maximum qualifying company donations.U.K.

SavingsU.K.

28 Tax-exempt special savings accounts.U.K.

F1929 Extension of SAYE.U.K.

30 Building societies.U.K.

Employee share ownership trustsU.K.

F2031. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2132. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2233. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2334. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2435. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2536. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2637. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2738. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2839. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F2940. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Insurance companies and friendly societiesU.K.

F3041 Apportionment of income etc.U.K.

F3142 Overseas life assurance business.U.K.

F3243 Deduction for policy holders’ tax.U.K.

F3344 Reinsurance commissions.U.K.

45 Policy holders’ share of profits etc.U.K.

F4046. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F4147. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F4248 Transfers of long term business.U.K.

49 Friendly societies: increased tax exemption.U.K.

F4450 Friendly societies: application of enactments.U.K.

Unit and investment trusts etc.U.K.

F4551. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

52 Unit trusts: repeals.U.K.

F4653 Unit trust managers: exemption from bond-washing provisions.U.K.

F4754. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F4855 Investment trusts.U.K.

SecuritiesU.K.

F4956. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

[F5057 Deep gain securities.U.K.

F5158. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F5259. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Oil industryU.K.

F5360. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F5461. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

62 CT treatment of PRT repayment.U.K.

F5863. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F5964. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

InternationalU.K.