Search Legislation

Taxation (International and Other Provisions) Act 2010

 Help about what version

What Version

 Help about advanced features

Advanced Features

Changes over time for: Part 17

 Help about opening options

Alternative versions:

Changes to legislation:

There are currently no known outstanding effects for the Taxation (International and Other Provisions) Act 2010, Part 17 . Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

Part 17 U.K.Relocation of section 199 of FA 2003

Taxes Management Act 1970 (c. 9)U.K.

102U.K.TMA 1970 is amended as follows.

103U.K.After section 18A insert—

18BSavings income: regulations about European and international aspects

(1)The Treasury may make regulations for implementing and for dealing with matters arising out of or related to—

(a)any EU obligation created with a view to ensuring the effective taxation of savings income under the law of the United Kingdom and the laws of the other member States, and

(b)any arrangements made with a territory other than a member State with a view to ensuring the effective taxation of savings income under the law of the United Kingdom and the law of the other territory.

(2)In this section “savings income” means—

(a)interest, apart from interest of a prescribed description, or

(b)other sums of a prescribed description.

(3)The power to make regulations under this section is exercisable by statutory instrument.

(4)A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.

18CRegulations under section 18B: provision about “paying agents”

(1)Regulations under section 18B may, in particular, require paying agents—

(a)to obtain and verify prescribed descriptions of information about the identity and residence of relevant payees to whom they make savings income payments, and

(b)to provide to the Commissioners for Her Majesty's Revenue and Customs, or an officer of Revenue and Customs, prescribed descriptions of information about relevant payees to whom they make savings income payments and about the savings income payments which they make to them.

(2)Regulations under section 18B may include provision for the inspection on behalf of the Commissioners of books, documents and other records of persons who are, or appear to an officer to be, paying agents.

(3)In this section “paying agents” means persons of a prescribed description who make savings income payments to other persons.

(4)In this section “relevant payees” means—

(a)persons of a prescribed description who are resident (within the meaning of regulations under section 18B) in a prescribed territory, and

(b)persons of any such other description as may be prescribed.

(5)For the purposes of this section, a person makes savings income payments to another person if the person—

(a)makes payments of savings income to the other person, or

(b)secures the payment of savings income for the other person.

(6)In this section “savings income” has the same meaning as in section 18B.

(7)The descriptions of persons who may be prescribed under subsection (3) include, in particular, public officers and government departments.

(8)The only territories which may be prescribed under subsection (4)(a) are—

(a)the other member States, and

(b)territories with which arrangements such as are mentioned in section 18B(1)(b) have been made.

18DContent of regulations under section 18B: supplementary provision

(1)Regulations under section 18B may include provision for notices under such regulations to be combined with notices under sections 17 and 18.

(2)Regulations under section 18B may include provision about the time at or within which, and the manner in which, any requirement imposed by such regulations is to be complied with.

(3)Regulations under section 18B may include provision for penalties for failure to comply with requirements imposed by such regulations, including provision applying any provision of this Act about the determination of penalties or any other matter relating to penalties.

(4)Regulations under section 18B—

(a)may make different provision for different cases or descriptions of case, and

(b)may include incidental, supplemental, consequential and transitional provision and savings.

18EInterpretation of sections 18B to 18D: “prescribed” etc

(1)In sections 18B to 18D “prescribed” means prescribed by regulations under section 18B.

(2)The following provisions do not apply for the purposes of sections 18B to 18D—

(a)section 118 of this Act (interpretation), and

(b)section 18 of ITA 2007 (meaning of “savings income” in the Income Tax Acts).

104(1)Amend the first column of the Table in section 98 (special returns etc) as follows.U.K.

(2)Omit the entry for regulations under section 199 of the Finance Act 2003.

Finance Act 2003 (c. 14)U.K.

105U.K.FA 2003 is amended as follows.

106U.K.Omit section 199 (savings income: power to make regulations in connection with Community obligations and international arrangements).

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources