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In force since 2016-11-23, as the publisher states.
Copy read on 2026-11-08. The page it was read from
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
sha256 34070574e68fb4300c68e09f1c6b0ab2fd78c2209cee407b17a9b9645f0f7f67
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Finance Act 1980 1980 c. 48 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. [1st August 1980]
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Propose a change(1) Subject to the provisions of this section, the duty charged by section 13 of the Betting and Gaming Duties Act 1972 on a gaming licence in respect of any premises for any period shall consist of— (a) £250 payable when applying for the licence; and (b) a further amount of duty payable after the end of that period and chargeable at the rates specified in the following Table on the gross gaming yield from the premises in that period. TABLE Part of gross gaming yield | Rate The first £250,000 | 2½ per cent. The next £500,000 | 5 per cent. The next £1,750,000 | 10 per cent. The remainder | 20 per cent. (2) Subsection (1) above has effect in relation to licences for periods beginning on or after 1st October 1980 but in the case of a licence for a period beginning before 1st October 1981— (a) the amount payable when applying for the licence shall, instead of being £250, be determined as provided in section 14 of the said Act of 1972; and (b) the further amount referred to in subsection (1)(b) above shall be payable only to the extent, if any, to which it exceeds the amount paid when applying for the licence. (3) Subsection (2) above is without prejudice to any liability for additional duty by virtue of the provisions of regulations having effect under paragraph 1 of Schedule 2 to the said Act of 1972 (alteration of rateable value) or of paragraph 5 of that Schedule (amendment of licences); and if— (a) any payment of additional duty is made by virtue of those provisions; or (b) there is a repayment of duty by virtue of any such regulations or of paragraph 6 of that Schedule (surrender of licences), the reference in subsection (2)(b) above to the amount paid when applying for the licence shall be construed as a reference to that amount as increased or, as the case may be, reduced by that payment or repayment. (4) Schedule 5 to this Act shall have effect for defining “gross gaming yield”, for making new provision as to the duration of gaming licences, for modifying subsections (1) and (2) above in cases where a licence is in force for less than six months and otherwise for supplementing the provisions of this section.
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Propose a change(1) The Excise Duties (Surcharges or Rebates) Act 1979 shall have effect with the following amendments, being amendments which remove the restrictions on the purposes for which and the period within which orders may be made under that Act and alter the provisions of that Act relating to parliamentary control. (2) In section 1(2) for the words preceding paragraph (a) there shall be substituted the words “The Treasury may, by an order applying to one or more of the groups of duties to which this section applies, provide for an adjustment”. (3) For section 2(2) there shall be substituted— (2) An order shall cease to be in force at the expiration of a period of one year from the date on which it takes effect unless continued in force by a further order. (4) For section 2(7), (8) and (9) there shall be substituted— (7) A statutory instrument containing an order which, with respect to all or any of the groups of duties— (a) specifies a percentage by way of addition to duty or increases a percentage so specified; or (b) withdraws or reduces a percentage specified by way of deduction from duty, shall be laid before the House of Commons after being made; and unless the order is approved by that House before the expiration of twenty-eight days beginning with the date on which it was made, it shall cease to have effect on the expiration of that period, but without prejudice to anything previously done under it or to the making of a new order. In reckoning any such period no account shall be taken of any time during which Parliament is dissolved or prorogued or during which the House of Commons is adjourned for more than four days. (8) A statutory instrument containing an order to which subsection (7) above does not apply shall be subject to annulment in pursuance of a resolution of the House of Commons. .
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Propose a change(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) The Friendly Societies Act (Northern Ireland) 1970 and the Friendly Societies Act 1974 shall be amended as follows— (a) in section 1(3A) of the said Act of 1970 and in section 7(3A) of the said Act of 1974 (registration of societies) for “£1,000” and “£208” there shall be substituted respectively “ £2,000 ” and “ £416 ”; and (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3)(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Propose a change(1) In the provisions mentioned in subsection (2) below (remission of interest on unpaid tax where the amount of interest does not exceed £10) for “£10” there shall be substituted “ £30 ”. (2) The provisions referred to above are— (a) section 86(6) of the Taxes Management Act 1970 (income tax, corporation tax and capital gains tax); (b) section 87(4) of that Act (advance corporation tax and income tax on company payments); and (c) section 87(3) of that Act as originally enacted (income tax on company distributions). (3) This section has effect in relation to interest on tax charged by assessments notice of which is issued after the passing of this Act.
Propose a change(1)(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4)–(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change(1)–(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change(1)–(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7) In section 12 of the Customs, Inland Revenue, and Savings Banks Act 1877 (transmission and custody of inventories in Scotland)— (a) for the word “All”, where first occurring, there shall be substituted the words “ To the extent that the Registrar, Capital Taxes Office at Edinburgh may require, ” ; and (b) the words “as often as required” shall cease to have the effect. (8)(9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Propose a change(1) No stamp duty shall be chargeable on any instrument whereby property ceases to be comprised in a settlement if as a result of the property or part of it becoming comprised in another settlement (otherwise than by virtue of the instrument itself) there is by virtue of paragraph 9(1) or 17(1) of Schedule 4 to the Capital Transfer Tax Act 1984 there is no charge to capital transfer tax in respect of the property ceasing to be comprised in the settlement or a reduced charge to that tax by virtue of paragraph 9(4) or 17(4) of that Schedule but where only part of the property becomes comprised in the other settlement this subsection shall not affect the stamp duty chargeable on the instrument by reference to the other part. (2) An instrument in respect of which stamp duty is not chargeable by virtue only of this section or in respect of which the duty chargeable is reduced by virtue of this section shall not be treated as duly stamped unless it is stamped in accordance with section 12 of the Stamp Act 1891 with a stamp denoting that it is not chargeable with any duty or that it is duly stamped.
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