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Contents

Legislation
Finance Act 1996
  • Introduction
  • Part I Excise Duties
  • Part II Value Added Tax
  • Part III Landfill Tax
  • Part IV Income Tax, Corporation Tax and Capital Gains Tax
  • Part V Inheritance tax
  • Part VI Stamp Duty and Stamp Duty Reserve Tax
  • Part VII Miscellaneous and supplemental
  • SCHEDULE 1 Mixing of rebated oil
  • SCHEDULE 2 Vehicle licensing and registration
  • SCHEDULE 3 Value added tax: Fiscal and other warehousing
  • SCHEDULE 4 Value added tax: anti-avoidance provisions
  • SCHEDULE 5 Landfill Tax
  • SCHEDULE 6 Taxation of savings at the lower rate
  • SCHEDULE 7 Transfer of charge under Schedule C to Schedule D
  • SCHEDULE 8 Loan relationships: claims etc relating to deficits
  • SCHEDULE 9 Loan relationships: special computational provisions
  • SCHEDULE 10 Loan relationships: collective investment schemes
  • SCHEDULE 11 Loan relationships: special provisions for insurers
  • SCHEDULE 12
  • SCHEDULE 13 Discounted securities: income tax provisions
  • SCHEDULE 14 Loan relationships: minor and consequential amendments
  • SCHEDULE 15 Loan relationships: savings and transitional provisions
  • SCHEDULE 16 Share option schemes approved before passing of this Act
  • SCHEDULE 17 Claims for relief involving two or more years
  • SCHEDULE 18 Overdue tax and excessive payments by the Board
  • SCHEDULE 19 Self-assessment: claims and enquiries
  • SCHEDULE 20 Self-assessment: discretions exercisable by the Board etc.
  • SCHEDULE 21 Self-assessment: time limits
  • SCHEDULE 22 Self-assessment: appeals
  • SCHEDULE 23 Self-assessment: Schedules 13 and 16 to the Taxes Act 1988
  • SCHEDULE 24 Self-assessment: accounting periods etc.
  • SCHEDULE 25 Self-assessment: surrenders of advance corporation tax
  • SCHEDULE 26 Damages and compensation for personal injury
  • SCHEDULE 27 Foreign income dividends
  • SCHEDULE 28 FOTRA securities: consequential amendments
  • SCHEDULE 29 Paying and Collecting Agents etc.
  • SCHEDULE 30 Investments in housing
  • SCHEDULE 31 Life assurance business losses
  • SCHEDULE 32 Equalisation reserves
  • SCHEDULE 33 Management expenses of capital redemption business
  • SCHEDULE 34 Provisional repayments in connection with pension business
  • SCHEDULE 35 Roll-over relief in respect of ships
  • SCHEDULE 36 Controlled foreign companies
  • SCHEDULE 37 Banks
  • SCHEDULE 38 Quotation or listing of securities
  • SCHEDULE 39 Enactment of Certain Inland Revenue Extra-Statutory Concessions
  • SCHEDULE 40 Gilt stripping: taxation provisions
  • SCHEDULE 41 Repeals
  1. Finance Act 1996
  2. Introduction

Introduction

From legislation.gov.uk

An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.

[29th April 1996]

Most Gracious Sovereign,

We, Your Majesty’s most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards raising the necessary supplies to defray Your Majesty’s public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

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