Finance Act 2016 (Version in vigour from 2022-03-15 to )

Consolidated Text

Cited authorities 413

Cited in

Currency	No known outstanding effects
Coming into Force	15 March 2022

Contenidos

Finance Act 2016
PART 1: Income tax

Charge and principal rates etc

1: Income tax charge and rates for 2016-17
2: Basic rate limit for 2017-18
3: Personal allowance for 2017-18

Rate structure

4: Savings allowance, and savings nil rate etc
5: Rates of tax on dividend income, and abolition of dividend tax credits etc
6: Structure of income tax rates

Employment income: taxable benefits

7: Taxable benefits: application of Chapters 5 to 7 of Part 3 of ITEPA 2003
8: Cars: appropriate percentage for 2019-20 and subsequent tax years
9: Cars which cannot emit CO2: appropriate percentage for 2017-18 and 2018-19
10: Diesel cars: appropriate percentage
11: Cash equivalent of benefit of a van
12: Tax treatment of payments from sporting testimonials
13: Exemption for trivial benefits provided by employers
14: Travel expenses of workers providing services through intermediaries
15: Taxable benefits: PAYE

Employment income: other provision

16: Employee share schemes
17: Securities options
18: Employment income provided through third parties

Pensions

19: Standard lifetime allowance from 2016-17
20: Pensions bridging between retirement and state pension
21: Dependants' scheme pensions
22: Pension flexibility
23: Netherlands Benefit Act for Victims of Persecution 1940-1945

Trading and other income

24: Fixed-rate deductions for use of home for business purposes
25: Averaging profits of farmers etc
26: Relief for finance costs related to residential property businesses
27: Individual investment plans of deceased investors

Reliefs: enterprise investment scheme, venture capital trusts etc

28: EIS, SEIS and VCTs: exclusion of energy generation
29: EIS and VCTs: definition of certain periods
30: EIS and VCTs: election
31: VCTs: requirements for giving approval

Reliefs: peer-to-peer lending

32: Income tax relief for irrecoverable peer-to-peer loans

Transactions in securities

33: Transactions in securities: company distributions
34: Transactions in securities: procedure for counteraction of advantage
35: Distributions in a winding up

Disguised fees and carried interest

36: Disguised investment management fees
37: Income-based carried interest
38: Income-based carried interest: persons coming to the UK

Deduction at source

39: Deduction of income tax at source
40: Deduction of income tax at source: intellectual property
41: Deduction of income tax at source: intellectual property - tax avoidance

Receipts from intellectual property

42: Receipts from intellectual property: territorial scope
43: Receipts from intellectual property: diverted profits tax

Supplementary welfare payments: Northern Ireland

44: Tax treatment of supplementary welfare payments: Northern Ireland

PART 2: Corporation tax

Charge and rates

45: Charge for financial year 2017
46: Rate of corporation tax for financial year 2020

Research and development

47: Abolition of vaccine research relief
48: Cap on R&D aid

Loan relationships

49: Loan relationships and derivative contracts
50: Loans to participators etc: rate of tax
51: Loans to participators etc: trustees of charitable trusts

Intangible fixed assets

52: Intangible fixed assets: pre-FA 2002 assets
53: Intangible fixed assets: transfers treated as at market value

Creative industry reliefs

54: Tax relief for production of orchestral concerts

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Finance Act 2016 (Version in vigour from 2022-03-15 to )

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