Change 1 Article Choose an article Title and introductory text 1 Rates. 2 Reliefs. 3 Original gravity of beer. 4 Blending made-wines etc. 5 Description as beer. 6 Rates. 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Dishonoured cheques. 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Time limits for proceedings. 17 Disbursements in Port of London. 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Relief from car tax where vehicle leased to the handicapped. 28 Reliefs from duties and taxes for persons enjoying certain immunities and privileges. 29 Recovery of overpaid excise duty and car tax. 33 Married couples. 34 Charge and rate of corporation tax for financial year 1989. 35 Corporation tax: small companies. 36 Schedule E: revised Cases. 37 Schedule E: assessment on receipts basis. 38 Schedule E: unpaid emoluments. 39 Schedule E: unremitted emoluments. 40 Schedule E: emoluments already paid. 41 Schedule E: pensions etc. 42 Schedule E: supplementary. 43 Schedule D: computation 44 Companies with investment business and insurance companies: computation 45 PAYE: meaning of payment. 46 Relief for interest. 47 Close company loans: business expansion scheme. 48 Close company loans: material interest. 49 Car benefits. 50 Security assets and services. 51 Assets used partly for security. 52 Security: supplementary. 53 Employees earning £8,500 or more and directors. 54 Relief. 55 Eligible contracts. 56 Certification of contracts. 57 Medical insurance: supplementary. 58 Payroll deduction scheme. 59 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 British Museum and Natural History Museum. 61 Profit-related pay. 62 Savings-related share option schemes. 63 Profit sharing schemes. 64 Share option and profit sharing schemes: shares of consortium member. 65 Employee share schemes: material interest. 66 Priority share allocations for employees etc. 67 Tax relief. 68 Principal charges to tax. 69 Chargeable events. 70 Chargeable amounts. 71 Further charges to tax: borrowing. 72 Limit on chargeable amount. 73 Information. 74 Interpretation. 78 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81 Offshore funds operating equalisation arrangements. 82 Calculation of profits: bonuses etc 82A Calculation of profits: policy holders' tax 82B Unappropriated surplus on valuation 82C Relevant financial reinsurance contracts 82D Treatment of profits: life assurance — adjustment consequent on change in Insurance Prudential Sourcebook 82E Section 82D: treatment of transferors under insurance business transfer schemes 82F Section 82D: treatment of transferees under insurance business transfer schemes 83 Receipts to be taken into account. 83XA Structural assets 83YA Changes in value of assets brought into account: non-profit companies 83YB Meaning of “appropriate line 51 amount” for purposes of s.83YA 83YC FAFTS: charge in relevant period of account 83YD FAFTS: deduction in subsequent periods of account 83YE Regulations: apportionment and redefining “financial reinsurance arrangement” 83YF Financial reinsurance arrangements: further provision 83ZA Contingent loans 83A Meaning of “brought into account”. 83B Changes in recognised accounts: attribution of amounts carried forward under s.432F of Taxes Act 1988 83AA Amounts added to long term insurance fund of a company in excess of that company’s loss. 83AB Treatment of surplus where there is a subsequent transfer of business from the company etc. 84 Interpretation of sections 85 to 89 and further provisions about insurance companies. 85 Charge of certain receipts of basic life assurance business. 85A Excess adjusted life assurance trade profits 86 Spreading of relief for acquisition expenses. 87 Management expenses. 88 Corporation tax: policy holders’ share of profits. 88A Lower corporation tax rate on certain insurance company profits. 89 Policy holders’ share of profits. 89A Modification of sections 82 to 83A, 88 and 89 in relation to overseas life insurance companies. 90 Life policies etc. held by companies. 90A Interpretation 91 Premiums trust funds: stock lending. 92 Regulations about underwriters etc. 93 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 Securities: miscellaneous. 97 Set-off of ACT where companies remain in the same group. 98 Restriction on set-off of ACT. 99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Change in ownership of company. 101 Treatment of convertible shares or securities for purposes relating togroup relief etc. 102 Surrender of company tax refund etc. within group. 103 Repeal of apportionment provisions. 104 Meaning of “close company”. 105 Small companies’ rate not available to certain close companies. 106 Restriction on payment of tax credits. 107 Close companies: consequential amendments. 108 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 Settlements where settlor retains interest in settled property. 110 Residence of trustees. 111 Residence of personal representatives. 112 Security: trades etc. 113 Security: trades etc. (supplementary). 114 Relief for pre-trading expenditure. 115 Double taxation: tax credits. 116 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117–120 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123 Increase of chattel exemption. 124 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142 Power to call for documents and information. 143 Power to call for papers of tax accountant. 144 Restrictions on powers under TMA ss.20 and 20A. 145 Falsification etc. of documents. 146 Entry with warrant to obtain documents. 147 Procedure where documents etc. are removed. 148 Interpretation. 149 Assessments founded on fraudulent or negligent conduct. 150 Further assessments: claims etc. 151 Assessment of trustees etc. 152 Distress for non-payment of tax. 153 Priority in cases of distraint by others. 154 Recovery of tax from debtor in Scotland. 155 Priority in cases of poinding etc. by others in Scotland. 156 Interest on overdue tax. 157 Effect of certain claims on interest. 158 Small amounts of interest. 159 Interest on tax in case of failure or error. 160 Determinations under TMA s. 88. 161 Tax carrying interest under TMA ss. 86 and 88. 162 Failure to make return. 163 Incorrect return, accounts etc. 164 Special returns, information etc. 165 Special penalties in the case of certain returns. 166 Assisting in preparation of incorrect return etc. 167 Determination of penalties. 168 Amendments consequential on section 167. 169 Time limits. 170 Up-rating of certain penalties. 171 Gifts to housing associations. 172 Abatement of exemption where claim settled out of beneficiary’s ownresources. 173 Insurance: abolition of certain duties. 174 Unit trusts. 175 Stamp duty: stock exchange nominees 176 Stamp duty reserve tax: stock exchange nominees 177 Stamp duty reserve tax: information. 178 Setting of rates of interest. 179 Provisions consequential on section 178. 180 Repayment interest: period of accrual. 181 Broadcasting: additional payments by programme contractors. 182 Disclosure of information. 182A Double taxation: disclosure of information. 183 Government securities: redemption and transfer. 184 National savings accounts. 185 Winding up of Redemption Annuities Account. 186 Interpretation etc. 187 Repeals. 188 Short title. SCHEDULE 1 Vehicles Excise Duty: Rates SCHEDULE 2 Vehicles Excise Duty: Special Machines SCHEDULE 3 SCHEDULE 4 SCHEDULE 5 Employee Share Ownership Trusts SCHEDULE 10 SCHEDULE 11 SCHEDULE 12 Close Companies SCHEDULE 13 Capital Allowances: Miscellaneous Amendments SCHEDULE 14 SCHEDULE 15 SCHEDULE 16 Broadcasting: Additional Payments by Programme Contractors SCHEDULE 17 Repeals
What to do with it
As published
148 Interpretation.
(1) Section 20D of the Taxes Management Act 1970 shall beamended as follows.
(2) In subsection (2), for the words “of returns or accounts to be made ordelivered by the other” there shall be substituted the words “or deliveryof any information, return, accounts or other document which he knows will be,or is or are likely to be, used”.
(3) For subsection (3) there shall be substituted—
(3) Without prejudice to section 127 of the Finance Act1988, in sections 20 to 20CC above “document” has, subject to sections 20(8C) and 20A(1A), thesame meaning as it has—
(a) in relation to England and Wales, in Part I of the Civil Evidence Act 1968,
(b) in relation to Scotland, in Part III of the Law Reform(Miscellaneous Provisions) (Scotland) Act 1968, and
(c) in relation to Northern Ireland, in Part I of the Civil Evidence Act (Northern Ireland) 1971.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Your wording
Your change, as a redline
148 Interpretation.
(1) Section 20D of the Taxes Management Act 1970 shall beamended as follows.
(2) In subsection (2), for the words “of returns or accounts to be made ordelivered by the other” there shall be substituted the words “or deliveryof any information, return, accounts or other document which he knows will be,or is or are likely to be, used”.
(3) For subsection (3) there shall be substituted—
(3) Without prejudice to section 127 of the Finance Act1988, in sections 20 to 20CC above “document” has, subject to sections 20(8C) and 20A(1A), thesame meaning as it has—
(a) in relation to England and Wales, in Part I of the Civil Evidence Act 1968,
(b) in relation to Scotland, in Part III of the Law Reform(Miscellaneous Provisions) (Scotland) Act 1968, and
(c) in relation to Northern Ireland, in Part I of the Civil Evidence Act (Northern Ireland) 1971.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.