Finance Act 2003
Year | 2003 |
Finance Act 2003
CHAPTER 14
CONTENTS
PART 1
EXCISE DUTIES
Tobacco products duty
1 Rates of tobacco products duty
Alcoholic liquor duties
2 Rate of duty on beer
3 Rates of duty on wine and made-wine
Hydrocarbon oil duties
4 Rates of hydrocarbon oil duties
5 Rebates on hydrocarbon oil duties
Betting and gaming duties
6 General betting duty and pool betting duty: relief for losses
7 General betting duty: betting exchanges
8 General betting duty: restriction of exemption for on-course bets
9Bingo duty
10 Amusement machines not operated by coins or tokens
11 Amusement machines: use of currencies other than sterling
12 Responsibility for unlicensed amusement machines
13 Rates of gaming duty
Vehicle excise duty
14 Vehicle excise duty: rates
15 Disclosure for exemptions: Northern Ireland
Finance Act 2003 (c. 14)
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16 Duty at higher rate: exception for tractive units
PART 2
VALUE ADDED TAX
17 Requirement of evidence or security
18 Joint and several liability for unpaid VAT of another trader
19 Face-value vouchers
20 Supplies arising from prior grant of fee simple
21 Business gifts
22 Non-business use of business property
23 Supply of electronic services in member States: special accounting scheme
PART 3
TAXES AND DUTIES ON IMPORTATION AND EXPORTATION:PENALTIES
Preliminary
24 Introductory
The penalties
25 Penalty for evasion
26 Penalty for contravention of relevant rule
27 Exceptions from section 26
28 Liability of directors etc where body corporate liable to penalty for evasion
Reduction of amount of penalty
29 Reduction of penalty under section 25 or 26
Demand notices
30 Demands for penalties
31 Time limits for demands for penalties
32 No prosecution after demand notice for penalty under section 26
Reviews
33 Right to review of certain decisions
34 Time limit and right to further review
35 Powers of Commissioners on a review
Appeals
36 Appeals to a tribunal
37 Appeal tribunals
Evidence
38 Admissibility of certain statements and documents
Finance Act 2003 (c. 14)iii
Miscellaneous and supplementary
39 Service of notices
40 Penalties not to be deducted for income tax or corporation tax purposes
41 Regulations and orders
PART 4
STAMP DUTY LAND TAX
Introduction
42 The tax
Land transactions
43 Land transactions
44 Contract and conveyance
45 Contract and conveyance: effect of transfer of rights
46 Options and rights of pre-emption
47 Exchanges
Chargeable interests, chargeable transactions and chargeable consideration
48 Chargeable interests
49 Chargeable transactions
50 Chargeable consideration
51 Contingent, uncertain or unascertained consideration
52 Annuities etc: chargeable consideration limited to twelve years’ payments
53 Deemed market value where transaction involves connected company
54 Exceptions from deemed market value rule
Amount of tax chargeable
55 Amount of tax chargeable: general
56 Amount of tax chargeable: rent
Reliefs
57 Disadvantaged areas relief
58 Relief for certain exchanges of residential property
59 Relocation relief
60 Compulsory purchase facilitating development
61 Compliance with planning obligations
62 Group relief and reconstruction or acquisition relief
63 Demutualisation of insurance company
64 Demutualisation of building society
65 Incorporation of limited liability partnership
66 Transfers involving public bodies
67 Transfer in consequence of reorganisation of parliamentary constituencies
68 Charities relief
69 Acquisition by bodies established for national purposes
70 Right to buy transactions, shared ownership leases etc
71 Certain acquisitions by registered social landlord
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