Finance Act 1999

Cited authorities (444)

Cited in

Amendments (1337)

Jurisdiction	UK Non-devolved
Citation	1999 c. 16
Year	1999

Contenidos

Finance Act 1999
Part I: Excise duties

Alcoholic liquor duties

1: Rate of duty on sparkling cider

Hydrocarbon oil duties

2: Rates of duty and rebate on hydrocarbon oil
3: Increased rebate on higher octane unleaded petrol
4: Drawback of duty on exportation

Tobacco products duty

5: Rates of tobacco products duty

Betting and gaming duties

6: Rate of pool betting duty
7: Rates of gaming duty

Vehicle excise duty

8: The general rate of vehicle excise duty
9: Rates of duty for goods vehicles

Goods shipped etc as stores

10: Goods for sale on board ships or aircraft
11: Drawback of duty on shipment

Part II: Value added tax

12: Works of art, antiques, etc
13: Gold
14: Preparations etc of meat, yeast or egg
15: Assignment of debts
16: Groups of companies
17: Penalties for incorrect certificates
18: EC sales statements: time limits for assessments to penalties
19: Period before repayment supplement payable
20: Meaning of “business”
^F8 21: … … … … … … … … … …

Part III: Income Tax, Corporation Tax and Capital Gains Tax

Income tax rates and charge etc

^F9 22: Starting rate
^F10 23: Charge and rates for 1999-00
^F11 24: Personal allowances for 1999-00 for those aged 65 or more
25: Operative date of indexation for PAYE

Rates of capital gains tax

^F14 26: Rates of capital gains tax

Corporation tax charge and rates

27: Charge and main rate for financial year 2000
^F15 28: Corporation tax starting rate
29: Rate and fraction for corporation tax starting rate

Income tax reductions

^F16 30: Children’s tax credit
^F17 31: Restriction of MCA to those reaching 65 before 2000-01
^F18 32: Further provision about married couple’s allowance
33: Abolition of existing relief in respect of children
34: Abolition of widow’s bereavement allowance
^F19 35: Order of income tax reductions etc
36: Maintenance payments

Relief for interest payments

37: Limit on relief for interest
38: Withdrawal of relief for interest on loans to buy land etc
39: Withdrawal of relief for interest on new annuity loans
40: Annuity loans: residence requirements and re-mortgages
41: Repayments attracting repayment supplement

Employee benefits etc

^F21 42: Conditional acquisition of shares
^F21 43: Meaning of conditional interests in shares
^F21 44: Exemption for mobile telephones
^F21 45: Limited exemption for computer equipment
^F22 46: PRP and agricultural pay
^F23 47: Cars available for private use
^F24 48: Provision and support of bus services
^F24 49: Provision of motor cycle or cycle parking facilities
^F24 50: Cycles and cyclist’s safety equipment

Members of parliaments and assemblies

^F24 51: EU travel expenses
^F25 52: Scottish Parliament and devolved assemblies

Sub-contractors in the construction industry

^F26 53: Exemption certificates

Reverse premiums

^F27 54: Tax treatment of reverse premiums

Charities

55: Gifts in kind to charities etc
^F29 56: Gifts of money to relieve refugee poverty
^F30 57: Aggregation of money gifts for relief in poor countries

Education and training

^F31 58: Employees seconded to educational establishments
59: Phasing out of vocational training relief
^F32 60: Student loans: certain interest to be disregarded

Various other reliefs etc

^F33 61: Class 1B National Insurance contributions
62: Expenditure on film production and acquisition
^F34 63: Treatment of transfer fees under existing contracts

Settlements

^F35 64: Income of unmarried child of settlor

Securities and investments

65: Relevant discounted securities
66: Qualifying corporate bonds: provision consequential on s 65
67: Deep discount and deep gain securities
68: Court common investment funds

Venture capital trusts

^F42 69: Company restructuring and convertible securities
^F43 70: Relief on distributions

Enterprise investment scheme

^F44 71: Eligibility for EIS relief
^F45 72: Deferred gains: application of taper relief
73: Deferred gains: gain accruing on part disposal, etc

Chargeable gains

74: Value shifting: tax-free benefits
75: Allowable losses where beneficiary absolutely entitled
76: Concessions that defer a capital gains charge

Capital allowances

77: … … … … … … … … … …">^F46 77: … … … … … … … … … …

^F47 78: … … … … … … … … … …

Pensions and insurance, etc

79: Sharing of pensions on divorce, etc
^F48 80: Purchased life annuities
81: Acquisitions disregarded under insurance companies concession
82: Lloyd’s: members’ agent pooling arrangements
83: Provisions supplementary to s 82
84: Lloyd’s: roll-over relief

Advance pricing agreements and CFCs

^F58 85: Advance pricing agreements etc
^F59 86: Provisions supplementary to s 85
^F60 87: Effect of section 85 agreements on non-parties
^F61 88: Controlled foreign companies

Management and enforcement

89: Corporation tax: due and payable date
90: Release or writing off of debt: interest on tax overpaid
91: Advance corporation tax: consequences of abolition
92: Group relief: consequences of reduction in surrenderable amount
93: Company tax returns, etc

Part IV: Oil Taxation

94: Excluded oil
95: Sale and lease-back
96: Transfer of field interest
97: Provisions supplementary to ss 95 and 96
98: Qualifying assets
99: PRT instalments
^F71 100: Sale and lease-back: ring fence profits
101: Pipe-line elections
102: PRT returns
103: Business assets: roll-over relief

Part V: Inheritance tax

104: Gifts
105: Delivery of accounts
^F72 106: Power to call for documents etc
107: Inland revenue charge
108: Penalties

Part VI: Stamp duty and stamp duty reserve tax

Stamp duty

109: Interest and penalties on late stamping
110: Interest on repayment of duty overpaid etc
^F74 111: Stamp duty on conveyance or transfer on sale
112: General amendment of charging provisions
113: Bearer instruments
114: Penalties other than on late stamping
115: Minor amendments and repeal of obsolete provisions

Stamp duty reserve tax

116: Non-sterling bearer instruments issued in connection with merger or takeover
117: Scope of exceptions for certain bearer instruments
118: Relief in case of certain replacement securities
119: Power to exempt UK depositary interests in foreign securities
120: Minor amendments of exceptions to general charge
121: Power to make regulations with respect to administration, etc

Units in unit trusts

122: Stamp duty and stamp duty reserve tax: unit trusts

Supplementary provisions

123: Construction of this Part and other supplementary provisions

Part VII: Other taxes

Landfill tax

124: Rate of landfill tax

Insurance premium tax

^F78 125: Rate of insurance premium tax

Customs duties

126: Interest on unpaid customs debts
127: Interest on repayments
128: Periods to be disregarded in determining interest under s 127
129: Repayment of overpaid interest etc
130: Consequential amendments relating to interest

Part VIII: Miscellaneous and Supplemental

General administration of tax

131: Economic and monetary union: taxes and duties
132: Power to provide for use of electronic communications
133: Use of electronic communications under other provisions

Government borrowing etc

134: The Debt Management Account
135: Lending by Revenue Accounts to National Loans Fund
136: Definition of Government Stock
137: National Savings Bank: disclosure of information

Supplemental

138: Interpretation
139: Repeals
140: Short title

SCHEDULES

SCHEDULE 1: (Section 9) Rates of vehicle excise duty for goods vehicles etc
SCHEDULE 2: (Section 16) VAT: groups of companies

Amendment of Value Added Tax Act 1994
Transitional provisions

^F86 SCHEDULE 3: (Section 30) New Schedule 13B to the Taxes Act 1988
SCHEDULE 4: (Section 38) Withdrawal of relief for interest on loans to buy land etc

Amendments of Part IX of the Taxes Act 1988
Other amendments
Commencement

SCHEDULE 5: (Section 52) Scottish Parliament and devolved assemblies: exemptions and reliefs

Payments on dissolution, etc, or loss of office
Payments in respect of overnight expenses or EU travel
Office-holders’ transport and subsistence
Trustees’ income from parliamentary pension funds

Relevant statutory schemes
Pensions of members of the Scottish Executive

^F117 SCHEDULE 6: (Section 54) Tax treatment of receipts by way of reverse premium
^F118 SCHEDULE 7: (Section 72) Application of taper relief to EIS deferred gains
SCHEDULE 8: (Section 73)

EIS deferred gains: gains accruing on part disposal

Introductory
Paragraph 4
Paragraph 19
Consequential amendments

^F119

SCHEDULE 9: (Section 74) Chargeable gains: value shifting and tax-free benefits

SCHEDULE 10: (Section 79) Sharing of pensions etc on divorce or annulment

Definition of “pension business”
Approval of retirement benefit schemes
Discretionary approval of retirement benefit schemes
Non-approved retirement benefit schemes
...

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Finance Act 1999

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