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Finance Act 2016
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There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2016. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Sch. 19 para. 12(5)(b) inserted by 2017 c. 32 Sch. 14 para. 49(2)(c)
- Sch. 19 para. 12(5)(a) word inserted by 2017 c. 32 Sch. 14 para. 49(2)(b)
- Sch. 19 para. 51(8)(b) words inserted by 2017 c. 32 Sch. 14 para. 48(2)
- Sch. 19 para. 53(1) words inserted by 2017 c. 32 Sch. 14 para. 48(4)(a)
- Sch. 19 para. 53(1) words inserted by 2017 c. 32 Sch. 14 para. 48(4)(b)
- Sch. 19 para. 12(5)(a) words renumbered as Sch. 19 para. 12(5)(a) by 2017 c. 32 Sch. 14 para. 49(2)(a)
- Sch. 19 para. 58(1) words substituted by 2017 c. 32 Sch. 14 para. 48(5)
- Sch. 20 para. 1(4)(e) inserted by 2021 c. 26 Sch. 27 para. 47(2)
- Sch. 20 para. 3(3)(d) and word inserted by 2021 c. 26 Sch. 27 para. 47(3)(b)
- Sch. 20 para. 5(5) inserted by 2021 c. 26 Sch. 27 para. 47(5)
- Sch. 22 para. 2(4B) inserted by 2021 c. 26 Sch. 27 para. 48(2)(c)
- Sch. 22 para. 3(4A) inserted by 2021 c. 26 Sch. 27 para. 48(3)
PART 2 U.K.Consequential amendments
FA 1998U.K.
2U.K.Schedule 18 to FA 1998 (company tax returns) is amended as follows.
3U.K.In paragraph 25(3)—
(a)insert “ or ” at the end of paragraph (b), and
(b)omit paragraph (d) and the “or” preceding it.
4U.K.In paragraph 42(4)—
(a)insert “ or ” at the end of paragraph (a), and
(b)omit paragraph (c) and the “or” preceding it.
CTA 2009U.K.
5U.K.In section A1 of CTA 2009 (overview of the Corporation Tax Acts), in subsection (2)—
(a)omit paragraph (h), and
(b)after that paragraph insert—
“(ha)Part 6A of that Act (hybrid and other mismatches),”.
CTA 2010U.K.
6U.K.CTA 2010 is amended as follows.
7U.K.In section 938N (group mismatch schemes: priority)—
(a)omit paragraph (d), and
(b)after that paragraph insert—
“(da)Part 6A of that Act (hybrid and other mismatches);”.
8U.K.In section 938V (tax mismatch schemes: priority)—
(a)omit paragraph (c), and
(b)after that paragraph insert—
“(ca)Part 6A of TIOPA 2010 (hybrid and other mismatches);”.
TIOPA 2010U.K.
9U.K.TIOPA 2010 is amended as follows.
10U.K.In section 1 (overview of Act), in subsection (1)—
(a)omit paragraph (c), and
(b)after that paragraph insert—
“(ca)Part 6A (hybrid and other mismatches),”.
11U.K.In section 157 (direct participation), in subsection (1)—
(a)omit the “and” at the end of paragraph (b), and
(b)after paragraph (c) insert “, and
(d)in Part 6A, section 259NB(4).”
12U.K.In section 158 (indirect participation: defined by sections 159 to 162), in subsection (4)—
(a)omit the “and” at the end of paragraph (b), and
(b)after paragraph (c) insert “, and
(d)in Part 6A, section 259NB(4),”.
13U.K.In section 159 (indirect participation: potential direct participant), in subsection (1)—
(a)omit the “and” at the end of paragraph (b), and
(b)after paragraph (c) insert “, and
(d)in Part 6A, section 259NB(4).”
14U.K.In section 160 (indirect participation: one of several major participants), in subsection (1)—
(a)omit the “and” at the end of paragraph (b), and
(b)after paragraph (c) insert “, and
(d)in Part 6A, section 259NB(4).”
15U.K.Omit Part 6 (tax arbitrage).
16U.K.Omit Part 4 of Schedule 11 (tax arbitrage: index of defined expressions used in Part 6).
17U.K.After that Part of that Schedule insert—
“PART 4A U.K.Hybrid and other mismatches: index of defined expressions used in Part 6A
| arrangement (in Part 6A) | section 259NF |
| CFC and CFC charge (in Part 6A) | section 259B(4) |
| the Commissioners (in Part 6A) | section 259NF |
| control group (in Part 6A) | section 259NB |
| deduction period (in Chapter 10 of Part 6A) | section 259JA(5)(a) |
| dual resident company (in Chapter 10 of Part 6A) | section 259JA(3) |
| dual territory double deduction amount (in Chapter 10 of Part 6A) | section 259JA(5) |
| dual territory double deduction (in Chapter 11 of Part 6A) | section 259KB |
| excessive PE deduction (in Chapter 6 of Part 6A) | section 259FA(8) |
| excessive PE deduction (in Chapter 11 of Part 6A) | section 259KB |
| financial instrument (in Part 6A) | section 259N |
| foreign CFC and foreign CFC charge (in Part 6A) | section 259B(4) |
| foreign deduction period (in Chapter 10 of Part 6A) | section 259JA(5)(b) |
| hybrid entity (in Part 6A) | section 259BE |
| hybrid entity deduction period (in Chapter 9 of Part 6A) | section 259IA(2)(a) |
| hybrid entity double deduction amount (in Chapter 9 of Part 6A) | section 259IA(4) |
| hybrid or otherwise impermissible deduction/non-inclusion mismatch (in Chapter 3 of Part 6A) | section 259CB |
| hybrid payee (in Chapter 7 of Part 6A) | section 259GA(3) |
| hybrid payee deduction/non-inclusion mismatch (in Chapter 7 of Part 6A) | section 259GB |
| hybrid payer (in Chapter 5 of Part 6A) | section 259EA(3) |
| hybrid payer deduction/non-inclusion mismatch (in Chapter 5 of Part 6A) | section 259EB |
| hybrid transfer arrangement (in Chapter 4 of Part 6A) | section 259DB |
| hybrid transfer deduction/non-inclusion mismatch (in Chapter 4 of Part 6A) | section 259DC |
| imported mismatch payment (in Chapter 11 of Part 6A) | section 259KA(2) |
| imported mismatch arrangement (in Chapter 11 of Part 6A) | section 259KA(2) |
| investor (in Part 6A) | section 259BE(4) |
| investor deduction period (in Chapter 9 of Part 6A) | section 259IA(2)(b) |
| investor jurisdiction (in Part 6A) | section 259BE(4) |
| mismatch payment (in Chapter 11 of Part 6A) | section 259KA(6) |
| multinational company (in Chapter 6 of Part 6A) | section 259FA(3) |
| multinational company (in Chapter 8 of Part 6A) | section 259HA(4) |
| multinational payee deduction/non-inclusion mismatch (in Chapter 8 of Part 6A) | section 259HB |
| ordinary income (in Part 6A) | sections 259BC and 259BD |
| over-arching arrangement (in Chapter 11 of Part 6A) | section 259KA(5) |
| P (in Chapter 11 of Part 6A) | section 259KA(3) |
| parent jurisdiction (in Chapter 6 of Part 6A) | section 259FA(3)(a) |
| parent jurisdiction (in Chapter 8 of Part 6A) | section 259HA(4)(a) |
| parent jurisdiction (in Chapter 10 of Part 6A) | section 259JA(4)(b)(ii) |
| payee (in Part 6A) | section 259BB(6) |
| payee jurisdiction (in Part 6A) | section 259BB(9) |
| payer (in Part 6A) | section 259BB(1)(a) or (2) |
| payment (in Part 6A) | section 259BB(1) |
| payment period (in Part 6A) | section 259BB(1)(b) or (2) |
| PE jurisdiction (in Chapter 8 of Part 6A) | section 259HA(4)(b) |
| PE jurisdiction (in Chapter 10 of Part 6A) | section 259JA(4)(a) |
| PE jurisdiction (in Chapter 11 of Part 6A) | section 259KB(3)(a) |
| permanent establishment (in Part 6A) | section 259BF |
| quasi-payment (in Part 6A) | section 259BB(2) to (5) |
| related (in Part 6A) | section 259NC |
| relevant deduction (in Part 6A) | section 259BB(1)(b) or (2)(a) |
| relevant investment fund (in Part 6A) | section 259NA |
| relevant mismatch (in Chapter 11 of Part 6A) | section 259KA(6) |
| relevant multinational company (in Chapter 10 of Part 6A) | section 259JA(4) |
| relevant PE period (in Chapter 6 of Part 6A) | section 259FA(4) |
| series of arrangements (in Chapter 11 of Part 6A) | section 259KA(5) |
| substitute payment (in Chapter 4 of Part 6A) | section 259DB(5) |
| tax (in Part 6A) | section 259B |
| taxable period (in Part 6A) | section 259NF |
| taxable profits (in Part 6A) | sections 259BC(2) and 259BD(5) |
| underlying instrument (in Chapter 4 of Part 6A) | section 259DB(3) |
| underlying return (in Chapter 4 of Part 6A) | section 259DB(5)(b)” |
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