Finance (No. 3) Act 2010 (Version in vigour from 2019-02-12 to )

Consolidated Text

As Enacted

Cited authorities 147

Cited in

Currency	No known outstanding effects
Coming into Force	12 February 2019

Schedule 1 contains provision extending foster-care relief to other forms of care.

(1) Part 6 of ITTOIA

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Finance (No. 3) Act 2010
Part 1: Income tax, corporation tax and capital gains tax

Income tax and corporation tax

1: Shared lives care
2: Payments to special guardians and those in receipt of residence orders
3: Qualifying care relief: capital allowances
4: Seafarers' earnings
5: Venture capital schemes
6: Enterprise management incentives
7: Settlor to return excess repayment to trustees etc
8: Collection of income tax where sum deducted by payer
9: Company distributions
10: REITs: stock dividends
11: Financing costs and income of group companies
12: Consortium claims for group relief
13: R&D relief for SMEs: removal of intellectual property condition
14: Film tax credit: unused losses
15: Insurance business transfer schemes: non-profit fund transferred assets

Chargeable gains

16: Capital gains tax private residence relief: adult placement carers
17: Reinvestment of ring fence assets: acquisition by member of group

Capital allowances

18: First-year allowances on zero-emission goods vehicles

Part 2: Other taxes and duties

Value added tax

19: Non-business use of business assets etc: Schedule 8 contains—
20: Supplies of gas, heat or cooling
21: Supplies of aircraft etc
22: Postal services etc

Tobacco products duty

23: Long cigarettes

Landfill tax

24: Landfill tax: criteria for determining material to be subject to lower rate

Part 3: Administration

25: Interest: corporation tax and petroleum revenue tax

26: Penalties for failure to make returns etc

27: Penalties for failure to pay tax

28: Recovery of overpaid stamp duty land tax and petroleum revenue tax etc

29: Excise duties: compliance checks

Part 4: Miscellaneous provisions

30: Pension scheme under section 67 of Pensions Act 2008

31: Asbestos compensation settlements

Part 5: Final provisions

32: Interpretation

33: Short title

SCHEDULES

SCHEDULE 1 Section 1
Shared lives care

Extension of foster-care relief
Consequential amendments
Commencement
Transitional provision

SCHEDULE 2 Section 5
Venture capital schemes

Enterprise investment scheme
Venture capital trusts
Interpretation
Consequential repeal
Commencement of amendments relating to 70% eligible shares condition
Commencement of other provisions of this Schedule
Meaning of “the commencement day”

SCHEDULE 3 Section 9
Company distributions

Meaning of “distribution” in the Corporation Tax Acts
Meaning of “distribution” in Income Tax Acts
Distributions subject to the charge to corporation tax on income
Distributions giving rise to deemed disposals
Commencement
Treatment of distributions of UK resident companies made before 1 July 2009
Election to opt out of effect of Schedule in relation to a distribution made before 22 June 2010

SCHEDULE 4 Section 10
REITs: stock dividends

Amendment of TCGA 1992
Amendment of ITA 2007
Amendment of CTA 2010
Commencement

SCHEDULE 5 Section 11
Financing costs and income of group companies

Introduction
Amendment of Chapter 1 (introduction)
Amendments of Chapter 2 (application of Part)
Amendments of Chapter 3 (disallowance of deductions)
Amendment of Chapter 4 (exemption of financing income)
Amendments of Chapter 5 (intra-group financing income where payer denied deduction)
Amendments of Chapter 7 (“financing expense amount” and “financing income amount”)
Amendment of Chapter 8 (the “tested expense amount” and “tested income amount”)
Amendments of Chapter 9 (the “available amount”)
Amendments of Chapter 10 (other interpretative provisions)
Amendment of transitional provision
Amendments of index of defined expressions
Commencement
Election to defer the application of some of the amendments made by this Schedule

SCHEDULE 6 Section 12
Consortium claims for group relief

Introductory
Ability to claim group relief where link company established in the EEA
Limitations on group relief based on proportion of voting power held by company
Limitations on group relief where arrangements preventing control are in place
Commencement

SCHEDULE 7 Section 18
First-year allowances for zero-emission goods vehicles

SCHEDULE 8 Section 19
Value added tax: non-business use of business assets etc

Input tax
Non-business use of certain assets not to be treated as supply of services
Output tax charge where credit attributable to purported paragraph 5(4) supply

SCHEDULE 9 Section 25
Interest

Part 1: Corporation tax
Part 2: Petroleum revenue tax

SCHEDULE 10 Section 26
Penalty for failure to make returns etc

SCHEDULE 11 Section 27
Penalty for failure to make payments on time

SCHEDULE 12 Section 28
Recovery of overpaid tax etc

Part 1: Stamp duty land tax
Part 2: Petroleum revenue tax

SCHEDULE 13 Section 29
Excise duties: compliance checks

Part 1: Record-keeping
Part 2: Time limits
Part 3: Information and inspection powers

SCHEDULE 14 Section 31
Asbestos compensation settlements

Inheritance tax
Capital gains tax
Income tax

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Finance (No. 3) Act 2010 (Version in vigour from 2019-02-12 to )

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