Part 17Definitions for purposes of Act and final provisions
Final provisions
1027Minor and consequential amendments
Schedule 1 (minor and consequential amendments) has effect.
1028Power to make consequential provision
1
The Treasury may by order make such provision as the Treasury consider appropriate in consequence of this Act.
2
The power conferred by subsection (1) may not be exercised after 5 April 2010.
3
An order under this section may amend, repeal or revoke any provision made by or under an Act.
4
An order under this section may contain provision having retrospective effect.
5
An order under this section may contain incidental, supplemental, consequential and transitional provision and savings.
1029Power to undo changes
1
The Treasury may by order make such provision as the Treasury consider appropriate, in relation to a case in which the Treasury consider that a provision of this Act changes the effect of the law, for the purpose of returning the effect of the law to what it was immediately before 6 April 2007.
2
The power conferred by subsection (1) may not be exercised after 5 April 2010.
3
An order under this section may amend, repeal or revoke any provision made by or under this Act or by or under any other Act.
4
An order under this section may contain provision having retrospective effect.
5
An order under this section may contain incidental, supplemental, consequential and transitional provision and savings.
I11030Transitional provisions and savings
1
Schedule 2 (transitional provisions and savings) has effect.
2
The Treasury may by order make such transitional or saving provision as the Treasury consider appropriate in connection with the coming into force of this Act.
3
An order under subsection (2) may contain provision having retrospective effect.
4
At any time before section 1014 of this Act (orders and regulations) comes into force, section 828(4) of ICTA (order-making powers excluded from negative resolution procedure) has effect as if it included a reference to an order made under subsection (2) of this section.
1031Repeals and revocations
Schedule 3 (repeals and revocations, including of spent enactments) has effect.
1032Index of defined expressions
1
Schedule 4 (index of defined expressions that apply for the purposes of this Act) has effect.
2
That Schedule lists the places where some of the expressions used in this Act are defined or otherwise explained.
1033Extent
1
This Act extends to England and Wales, Scotland and Northern Ireland (but see subsection (2)).
2
An amendment, repeal or revocation contained in Schedule 1 or 3 has the same extent as the provision amended, repealed or revoked.
1034Commencement
1
This Act comes into force on 6 April 2007 and has effect—
a
for income tax purposes, for the tax year 2007-08 and subsequent tax years, and
b
for corporation tax purposes, for accounting periods ending after 5 April 2007.
2
Subsection (1) is subject to subsections (3) and (4).
3
The following—
a
Part 5 (enterprise investment scheme),
b
Part 3 of Schedule 1 (consequential amendment associated with Part 5), and
c
Part 2 of Schedule 3 (repeals so associated),
do not have effect in relation to shares issued before 6 April 2007.
This is subject to Schedule 2 (transitional provisions and savings).
4
Subsection (1) does not apply to the following provisions of this Act (which therefore come into force on the day on which this Act is passed)—
a
in Part 15, section 852, and
b
in this Part, sections 1017, 1018, 1028, 1029, 1030(2) to (4) and 1033, this section and section 1035.
1035Short title
This Act may be cited as the Income Tax Act 2007.