Icon Definitions:

Text match Text match
Confers power Confers power
Blanket amendment Blanket amendment

Results within Legislation

Your Search for: Legislation type All Primary; produced the following results within this item of legislation
(Entries appearing indented and in square brackets indicate provisions for which no version matched your date and extent criteria)

Update Status Warning: There are effects on this legislation that have not yet been applied to the Statute Law Database for the following year(s): 2006. Please see the Tables of legislative effects for details. See also important information in Update status of legislation.

Help - Opening and Viewing Legislation

        Finance Act 2006 (c. 25)
        Introductory Text
        Main body
        Part 1 Excise duties
        Tobacco products duty
        1 Rates of tobacco products duty
        [2 Tobacco products duty: evasion]
        Alcoholic liquor duties
        3 Rate of duty on beer
        4 Rates of duty on wine and made-wine
        5 Repeal of provisions of ALDA 1979 of no practical utility etc
        Hydrocarbon oil duties
        6 Rates until 1st September 2006
        7 Rates from 1st September 2006
        8 Road vehicles
        Betting and gaming duties
        9 General betting duty: gaming machines
        10 Rates of gaming duty
        Amusement machine licence duty
        11 Definition of "gaming machine"
        12 Classes of machine and rates of duty
        Vehicle excise duty
        13 Rates
        14 Reduced pollution certificates
        15 Late renewal supplement
        Part 2 Value added tax
        Gaming machines
        16 Gaming machines
        Land
        17 Buildings and land
        Imported works of art etc
        18 Value of imported works of art etc: auctioneer's commission
        Avoidance and fraud
        19 Missing trader intra-community fraud
        20 Power to inspect goods
        21 Directions to keep records where belief VAT might not be paid
        22 Treatment of credit vouchers
        Part 3 Income tax, corporation tax and capital gains tax
        Chapter 1 Income tax and corporation tax: charge and rate bands
        Income tax
        23 Charge and rates for 2006-07
        Corporation tax
        24 Charge and main rate for financial year 2007
        25 Small companies' rate and fraction for financial year 2006
        26 Abolition of corporation tax starting rate and non-corporate distribution rate
        Chapter 2 Reliefs for business
        Group relief
        27 Group relief where surrendering company not resident in UK
        Research and development
        28 Relief for research and development: subjects of clinical trials
        29 Claims for relief for research and development
        Capital allowances
        30 Temporary increase in amount of first-year allowances for small enterprises
        [Chapter 3 Films and sound recordings]
        [ Introductory]
        [31 Meaning of "film" and related expressions]
        [32 Meaning of "film production company"]
        [33 Meaning of "film-making activities" etc]
        [34 Meaning of "production expenditure" and related expressions]
        [35 Meaning of "UK expenditure"]
        [36 Meaning of "qualifying co-production" and "co-producer"]
        [ Taxation of activities of film production company]
        [37 Taxation of activities of film production company]
        [ Film tax relief]
        [38 Films qualifying for film tax relief]
        [39 Conditions of relief: intended theatrical release]
        [40 Conditions of relief: British film]
        [41 Conditions of relief: UK expenditure]
        [42 Film tax relief: further provisions]
        [ Film losses]
        [43 Films: restriction on use of losses while film in production]
        [44 Films: use of losses in later periods]
        [45 Films: terminal losses]
        [ Films: withdrawal of existing reliefs]
        [46 Films: withdrawal of existing reliefs (corporation tax)]
        [47 Films: withdrawal of existing reliefs (income tax)]
        [ Corporation tax treatment of sound recordings]
        [48 Sound recordings: revenue nature of expenditure]
        [49 Sound recordings: allocation of expenditure]
        [50 Sound recordings: interpretation]
        [ Supplementary provisions]
        [51 Corporation tax: films and sound recordings as intangible fixed assets]
        [52 Films: application of provisions to certain films already in production]
        [53 Films and sound recordings: commencement and power to alter dates]
        Chapter 4 Charities
        54 Transactions with substantial donors
        55 Non-charitable expenditure
        56 Trade profits
        57 Gift aid relief for companies wholly owned by one or more charities
        58 Extension of restrictions on gift aid payments by close companies
        Chapter 5 Personal taxation
        Cars
        59 Cars with a CO2 emissions figure
        Mobile telephones and computers
        60 Mobile telephones
        61 Computer equipment
        Eye care
        62 Exemption for employees' eye tests and special glasses
        Vouchers and tokens
        63 Power to exempt use of vouchers or tokens to obtain exempt benefits
        Holocaust victims
        64 Payments to or in respect of victims of National-Socialist persecution
        Chapter 6 The London Olympic Games and Paralympic Games
        65 London Organising Committee
        66 Section 65: supplementary
        67 International Olympic Committee
        68 Competitors and staff
        Chapter 7 Chargeable gains
        Capital losses
        69 Restriction on a company's allowable losses
        70 Restrictions on companies buying losses or gains
        71 Other avoidance involving losses accruing to companies
        72 Repeal of s.106 of TCGA 1992
        Insurance policies and annuities
        73 Policies of insurance and non-deferred annuities
        Capital gains tax
        74 Exception to "bed and breakfasting" rules etc
        Chapter 8 Avoidance: miscellaneous
        Film partnerships
        75 Interest relief: film partnership
        Financial instruments
        76 Avoidance involving financial arrangements
        Intangible fixed assets
        77 Treating assets as "existing assets" etc
        International matters
        78 Controlled foreign companies and treaty non-resident companies
        79 Transfer of assets abroad
        Pre-owned assets
        80 Restriction of exemption from charge to income tax
        Chapter 9 Miscellaneous provisions
        Leasing of plant or machinery
        81 Leases of plant or machinery
        Sale of lessors
        82 Sale etc of lessor companies etc
        83 Restrictions on use of losses etc: leasing partnerships
        84 Disposal of plant or machinery subject to lease where income retained
        85 Restrictions on effect of elections under section 266 of CAA 2001
        Insurance companies and policyholders
        86 Insurance companies
        87 Qualifying policies: altering method for calculating benefits
        Settlements
        88 Settlements, etc: chargeable gains
        89 Settlements, etc: income
        90 Special trusts tax rates not to apply to social landlords' service charge income
        Investment reliefs
        91 Venture capital schemes
        Employment-related securities
        92 Avoidance using options etc
        93 Corporation tax relief for shares acquired under EMI option
        PAYE
        94 PAYE: retrospective notional payments
        Alternative finance arrangements
        95 Profit share agency
        96 Diminishing shared ownership
        97 Beneficial loans to employees
        98 Regulations
        Nuclear decommissioning
        99 Amendment of section 29 of the Energy Act 2004
        100 Amendment of section 30 of the Energy Act 2004
        Accounting practice
        101 Securitisation companies
        102 Accountancy change: spreading of adjustment
        Part 4 Real Estate Investment Trusts
        Introduction
        103 Real Estate Investment Trusts
        104 Property rental business
        105 Other key concepts
        106 Conditions for company
        107 Conditions for tax-exempt business
        108 Conditions for balance of business
        Entering Real Estate Investment Trust Regime
        109 Notice
        110 Duration
        111 Effects of entry
        112 Entry charge
        Assets etc
        113 Ring-fencing of tax-exempt business
        114 Maximum shareholding
        115 Profit: financing-cost ratio
        116 Minor or inadvertent breach
        117 Cancellation of tax advantage
        118 Funds awaiting re-investment
        Profits
        119 Corporation tax
        120 Calculation of profits
        121 Distributions: liability to tax
        122 Distributions: deduction of tax
        123 Attribution of distributions
        Capital gains
        124 Corporation tax
        125 Movement of assets out of ring-fence
        126 Movement of assets into ring-fence
        127 Interpretation
        Leaving Real Estate Investment Trust Regime
        128 Termination by notice: company
        129 Termination by notice: Commissioners
        130 Automatic termination for breach of requirement
        131 Effects of cessation
        132 Early exit by notice
        133 Early exit
        Groups
        134 Group Real Estate Investment Trusts
        135 Transfer within group
        136 Availability of group reliefs
        Miscellaneous
        137 Insurance companies
        138 Joint ventures
        139 Manufactured dividends
        140 Penalties for failure to give notice, etc
        141 Effect of deemed disposal and re-acquisition
        142 Interpretation
        143 Housing investment trusts: repeal
        General
        144 Regulations
        145 Commencement
        Part 5 Oil
        New basis for determining market value
        146 New basis for determining the market value of oil
        147 Section 146: commencement and transitional provisions
        Attribution of blended crude oil
        148 Crude oil: power to make regulations
        Nomination scheme
        149 Nomination scheme
        150 Amendment of Schedule 10 to FA 1987
        151 Nomination excesses and corporation tax
        Ring fence trades
        152 Increase in rate of supplementary charge
        153 Election to defer capital allowances
        154 Ring fence expenditure supplement
        Part 6 Inheritance tax
        Future rates and bands
        155 Rates and rate bands for 2008-09 and 2009-10
        Trusts
        156 Rules for trusts etc
        157 Purchase of interests in foreign trusts
        Part 7 Pensions
        158 Taxable property held by investment-regulated pension schemes
        159 Recycling of lump sums
        160 Inheritance tax
        161 Miscellaneous
        Part 8 Stamp taxes
        Stamp duty and stamp duty land tax: thresholds
        162 Raising of thresholds
        Stamp duty land tax
        163 Partnerships
        164 Leases
        165 Reallocation of trust property as between beneficiaries
        166 Unit trust schemes
        167 Demutualisation of insurance companies
        168 Alternative finance
        Stamp duty
        169 Reliefs for certain company acquisitions
        Part 9 Miscellaneous provisions
        Landfill tax
        170 Rate of landfill tax
        Climate change levy
        171 Climate change levy: rates
        172 Abolition of half-rate supplies etc
        International tax arrangements
        173 International tax enforcement arrangements
        174 Arrangements under section 173: information powers
        175 Arrangements under section 173: recovery of debts
        176 Double taxation agreements: procedure
        Disclosure of information
        177 Disclosure of information
        Part 10 Supplementary provisions
        178 Repeals
        179 Interpretation
        180 Short title
        Schedules
        SCHEDULE 1 Group relief where surrendering company not resident in UK
        Part 1 Amendments of Chapter 4 of Part 10 of ICTA
        Part 2 Amendments of other enactments
        Part 3 Commencement
        SCHEDULE 2 Relief for research and development: subjects of clinical trials
        SCHEDULE 3 Claims for relief for research and development
        [SCHEDULE 4 Taxation of activities of film production company]
        [SCHEDULE 5 Film tax relief: further provisions]
        [Part 1 Entitlement to film tax relief]
        [Part 2 Certification of British films for purposes of film tax relief]
        [Part 3 Consequential amendments]
        [Part 4 Provisional entitlement to relief]
        SCHEDULE 6 Avoidance involving financial arrangements
        SCHEDULE 7 Transfer of assets abroad
        Income and Corporation Taxes Act 1988
        ITTOIA 2005
        SCHEDULE 8 Long funding leases of plant or machinery
        Part 1 Capital allowances
        Part 2 Corporation tax
        Part 3 Income tax
        Part 4 Commencement and transitional provisions
        SCHEDULE 9 Leases of plant or machinery: miscellaneous amendments
        Income and Corporation Taxes Act 1988
        Taxation of Chargeable Gains Act 1992
        Finance Act 1997
        Finance Act 2000
        Capital Allowances Act 2001
        SCHEDULE 10 Sale etc of lessor companies etc
        Part 1 Introduction
        Part 2 Leasing business carried on by a company alone
        Part 3 Leasing business carried on by a company in partnership
        Part 4 Miscellaneous
        SCHEDULE 11 Insurance companies
        SCHEDULE 12 Settlements: amendment of TCGA 1992 etc
        Part 1 Settlors, trustees and settlements
        Part 2 Sub-fund settlements
        Part 3 Consequential and minor amendments
        SCHEDULE 13 Settlements: amendments to ICTA and ITTOIA 2005 etc
        Part 1 Principal amendments
        Part 2 Minor and consequential amendments
        SCHEDULE 14 Investment reliefs: venture capital schemes
        Part 1 Limits on gross assets of issuers of shares or securities
        Part 2 Rate of relief for investments in venture capital trusts
        Part 3 Enterprise investment scheme: maximum subscriptions and carry-back of relief
        Part 4 Lengthening of periods applicable to venture capital trusts
        Part 5 Venture capital trusts: meaning of "investments"
        SCHEDULE 15 Accountancy change: spreading of adjustment
        Part 1 Income tax
        Part 2 Corporation tax
        SCHEDULE 16 Real Estate Investment Trusts: excluded business and income
        Part 1 Classes of business
        Part 2 Classes of income or profit
        Part 3 Power to amend
        SCHEDULE 17 Group Real Estate Investment Trusts: modifications
        SCHEDULE 18 Oil taxation: market value of oil
        Part 1 Amendments of the Oil Taxation Act 1975
        Part 2 Amendments of other enactments
        SCHEDULE 19 Schedule to be inserted as Schedule 19C to ICTA
        SCHEDULE 20 Inheritance tax: rules for trusts etc
        Part 1 "Trusts for bereaved minors", "age 18-to-25 trusts" and "accumulation and maintenance" trusts
        Part 2 Interests in possession: when settled property is part of beneficiary's estate
        Part 3 Related amendments in IHTA 1984
        Part 4 Related amendments in TCGA 1992
        Part 5 Property subject to a reservation
        Part 6 Conditional exemption: relief from charges
        SCHEDULE 21 Taxable property held by investment-regulated pension schemes
        SCHEDULE 22 Pension schemes: inheritance tax
        SCHEDULE 23 Pension schemes etc: miscellaneous
        SCHEDULE 24 Stamp duty land tax: amendments of Schedule 15 to FA 2003
        SCHEDULE 25 Stamp duty land tax: amendments of Schedule 17A to FA 2003
        SCHEDULE 26 Repeals
        Part 1 Excise duties
        Part 2 Value added tax
        Part 3 Income tax, corporation tax and capital gains tax
        Part 4 Real Estate Investment Trusts
        Part 5 Oil
        Part 6 Inheritance tax
        Part 7 Stamp taxes
        Part 8 Miscellaneous provisions

  © Crown Copyright Back to top