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Contents

Legislation
Finance Act 2008
  • Introduction
  • Part 1 Charges, rates, allowances, reliefs etc
  • Part 2 Income tax, corporation tax and capital gains tax_general
  • Part 3 Capital allowances
  • Part 4 Pensions
  • Part 5 Stamp taxes
  • Part 6 Oil
  • Part 7 Administration
  • Part 8 Miscellaneous
  • Part 9 Final provisions
  • SCHEDULE 1 Abolition of starting and savings rates and creation of starting rate for savings
  • SCHEDULE 2 Capital gains tax reform
  • SCHEDULE 3 Entrepreneurs' relief
  • SCHEDULE 4 Inheritance tax: transfer of nil-rate band etc
  • SCHEDULE 5 Fuel duty: biodiesel and bioblend
  • SCHEDULE 6 Aircraft and boat fuel, heating oil and fuel used for certain engines
  • SCHEDULE 7 Remittance basis
  • SCHEDULE 8 Rates of research and development relief and vaccine research relief
  • SCHEDULE 9 Companies in difficulty: SME R&D relief and vaccine research relief
  • SCHEDULE 10 Cap on R&D aid
  • SCHEDULE 11 Venture capital schemes
  • SCHEDULE 12 Tax credit for certain foreign distributions
  • SCHEDULE 13 Company gains from investment life insurance contracts
  • SCHEDULE 14 Company gains from investment life insurance contracts: consequential amendments etc
  • SCHEDULE 15 Changes in trading stock
  • SCHEDULE 16 Non-residents: investment managers
  • SCHEDULE 17 Insurance companies etc
  • SCHEDULE 18 Friendly societies
  • SCHEDULE 19 Reduction of basic rate of income tax: transitional relief for gift aid charities
  • SCHEDULE 20 Leases of plant or machinery
  • SCHEDULE 21 Restriction on loss relief for non-active traders
  • SCHEDULE 22 Avoidance involving financial arrangements
  • SCHEDULE 23 Manufactured payments: anti-avoidance
  • SCHEDULE 24 Annual investment allowance
  • SCHEDULE 25 First-year tax credits
  • SCHEDULE 26 Special rate expenditure and the special rate pool
  • SCHEDULE 27 Abolition of allowances: consequential amendments and savings
  • SCHEDULE 28 Inheritance of tax-relieved pension savings
  • SCHEDULE 29 Further provision about pension schemes
  • SCHEDULE 30 Stamp duty land tax: notification etc: consequential provision
  • SCHEDULE 31 Stamp duty land tax: special provisions for property-investment partnerships
  • SCHEDULE 32 Stamp duty: abolition of fixed duty on certain instruments
  • SCHEDULE 33 PRT: elections for oil fields to become non-taxable
  • SCHEDULE 34 Oil decommissioning expenditure: consequential amendments
  • SCHEDULE 35 Set off against oil profits: minor and consequential amendments
  • SCHEDULE 36 Information and inspection powers
  • SCHEDULE 37 Record-keeping
  • SCHEDULE 38 Disclosure of tax avoidance schemes
  • SCHEDULE 39 Time limits for assessments, claims etc.
  • SCHEDULE 40 Penalties: amendments of Schedule 24 to FA 2007
  • SCHEDULE 41 Penalties: failure to notify and certain VAT and excise wrongdoing
  • SCHEDULE 42 Alcoholic liquor duties: decisions subject to review and appeal
  • SCHEDULE 43 Taking control of goods etc: consequential provision
  • SCHEDULE 44 Certificates of debt: consequential provision
  • SCHEDULE 45 Vehicle excise duty: offence of using or keeping unlicensed vehicle
  • SCHEDULE 46 Government borrowing: alternative finance arrangements
  1. Finance Act 2008
  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.

[21st July 2008]

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 to 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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