Change 1 Article Choose an article Title and introductory text 1 Charge and main rates for 2009-10 2 Basic rate limit for 2009-10 3 Personal allowance for 2009-10 for those aged under 65 4 Reduction of personal allowance for those with income exceeding £100,000 5 Abolition of personal reliefs for non-residents 6 Additional rate, dividend additional rate, trust rates and pension tax rates 7 Charge and main rates for financial year 2010 8 Small companies' rates and fractions for financial year 2009 9 Extension of reduced standard rate and anti-avoidance provision 10 Thresholds for residential property 11 Rates of alcoholic liquor duty 12 Rates of tobacco products duty 13 Rates for 2009-10 14 Rates from April 2010 15 Rates and rebates from Spring 2009 16 Rates and rebates from September 2009 17 Rates of air passenger duty 18 Standard rate of landfill tax 19 Rates of gaming duty 20 Bingo duty 21 Amounts of duty on amusement machine licences 22 Provisions affecting amount of amusement machine licence duty 23 Temporary extension of loss carry back provisions 24 First-year capital allowances for expenditure in 2009-2010 25 Agreements to forgo tax reliefs 26 Contaminated and derelict land 27 Venture capital schemes 28 Group relief: preference shares 29 Sale of lessor companies etc: reforms 30 Tax relief for business expenditure on cars and motor cycles 31 Reallocation of chargeable gain or loss within a group 32 Stock lending: chargeable gains in event of insolvency etc of borrower 33 FSCS payments representing interest 34 Corporation tax treatment of company distributions received 35 Tax treatment of financing costs and income 36 Controlled foreign companies 37 International movement of capital 38 Corporation tax: foreign currency accounting 39 Certain distributions of offshore funds taxed as interest 40 Income tax credits for foreign distributions 41 Loan relationships involving connected parties 42 Release of trade etc debts 43 Foreign exchange matching: anti-avoidance 44 Tax treatment of participants in offshore funds 45 Power to enable dividends of investment trusts to be taxed as interest 46 Insurance companies 47 Equalisation reserves for Lloyd's corporate and partnership members 48 Disguised interest 49 Transfer of income streams 50 SAYE schemes 51 Remittance basis 52 Exemption for certain non-domiciled persons 53 Taxable benefits: cars 54 Taxable benefit of cars: price of automatic car for disabled employee 55 Exemption of benefit consisting of health-screening or medical check-up 56 MEPs' pay, allowances and pensions under European Parliament Statute 57 Tax underlying dividends 58 Manufactured overseas dividends 59 Payments by reference to foreign tax etc 60 Anti-fragmentation 61 Financial arrangements avoidance 62 Transfers of trade to obtain terminal loss relief 63 Sale of lessor companies etc: anti-avoidance 64 Leases of plant or machinery 65 Long funding leases of films 66 Real Estate Investment Trusts 67 Deductions for employee liabilities 68 Employment loss relief 69 No loss relief for losses from contracts for life insurance etc 70 Intangible fixed assets and goodwill 71 Taxable benefit of living accommodation: lease premiums 72 Special annual allowance charge etc 73 Financial assistance scheme 74 FSCS intervention in relation to insurance in connection with pensions 75 Power to make retrospective non-charging provision 76 Place of supply of services etc 77 Repayment to those in business in other States 78 Information relating to cross-border supplies of services to taxable recipients 79 Effect of VAT changes on arbitration of rent for agricultural holdings 80 Exercise of collective rights by tenants of flats 81 Registered providers of social housing 82 Rent to shared ownership 83 Stamp taxes in event of insolvency 84 Capital allowances for oil decommissioning expenditure 85 Blended oil 86 Chargeable gains 87 Oil assets put to other uses 88 Former licensees and former oil fields 89 Abolition of provisional expenditure allowance 90 Supplementary charge: reduction for certain new oil fields 91 Miscellaneous amendments 92 HMRC Charter 93 Duties of senior accounting officers of qualifying companies 94 Publishing details of deliberate tax defaulters 95 Amendment of information and inspection powers 96 Extension of information and inspection powers to further taxes 97 Powers to obtain contact details for debtors 98 Record-keeping 99 Time limits for assessments, claims etc 100 Recovery of overpaid tax etc 101 Late payment interest on sums due to HMRC 102 Repayment interest on sums to be paid by HMRC 103 Rates of interest 103A Further provision as to late payment interest and repayment interest 104 Supplementary 105 Miscellaneous amendments 106 Penalties for failure to make returns etc 107 Penalties for failure to pay tax 108 Suspension of penalties during currency of agreement for deferred payment 109 Miscellaneous amendments 110 Recovery of debts using PAYE regulations 111 Managed payment plans 112 Customs and excise enforcement: movements between member States 113 VAT exemption for gaming participation fees 114 Gaming duty 115 Remote bingo etc 116 Meaning of “gaming machine” and “gaming” 117 Taxable commodities ineligible for reduced-rate supply 118 Removal of reduced rate where targets not met 119 Landfill tax: prescribed landfill site activities 120 Requirement to destroy replaced vehicle registration documents 121 Hydrocarbon oil duties: minor amendments 122 Inheritance tax: agricultural property and woodlands relief for EEA land 123 Alternative finance investment bonds 124 Mutual societies: tax consequences of transfers of business etc 125 National Savings ordinary accounts: surplus funds 126 Interpretation 127 Short title SCHEDULE 1 Income tax: abolition of non-residents' personal reliefs SCHEDULE 2 Income tax rates SCHEDULE 3 VAT: supplementary charge and orders changing rate SCHEDULE 4 Vehicle excise duty: further provision about rates of duty etc SCHEDULE 5 Air passenger duty SCHEDULE 6 Temporary extension of carry back of losses SCHEDULE 7 Contaminated and derelict land SCHEDULE 8 Venture capital schemes SCHEDULE 11 Tax relief for business expenditure on cars and motor cycles SCHEDULE 12 Reallocation of chargeable gain or loss within a group SCHEDULE 13 Chargeable gains in stock lending: insolvency etc of borrower SCHEDULE 14 Corporation tax treatment of company distributions SCHEDULE 15 Tax treatment of financing costs and income SCHEDULE 16 Controlled foreign companies SCHEDULE 17 International movement of capital SCHEDULE 19 Income tax credits for foreign distributions SCHEDULE 20 Loan relationships: connected parties SCHEDULE 21 Foreign exchange: anti-avoidance SCHEDULE 22 Offshore funds SCHEDULE 23 Insurance companies SCHEDULE 24 Disguised interest SCHEDULE 25 Transfers of income streams SCHEDULE 26 Certification of SAYE savings arrangements SCHEDULE 27 Remittance basis SCHEDULE 28 Taxable benefits: cars SCHEDULE 30 Financial arrangements avoidance SCHEDULE 32 Leases of plant or machinery SCHEDULE 33 Long funding leases of films SCHEDULE 36 VAT: place of supply of services etc SCHEDULE 37 Stock lending: stamp taxes in the event of insolvency SCHEDULE 38 Capital allowances for oil decommissioning expenditure SCHEDULE 39 PRT: blended oil SCHEDULE 40 Oil: chargeable gains SCHEDULE 41 Oil assets put to other uses SCHEDULE 42 PRT: former licensees and former oil fields SCHEDULE 43 PRT: abolition of provisional expenditure allowance SCHEDULE 44 Supplementary charge: reduction for certain new oil fields SCHEDULE 45 Oil: miscellaneous amendments SCHEDULE 46 Duties of senior accounting officers of qualifying companies SCHEDULE 47 Amendment of information and inspection powers SCHEDULE 48 Extension of information and inspection powers SCHEDULE 49 Powers to obtain contact details for debtors SCHEDULE 50 Record-keeping SCHEDULE 51 Time limits for assessments, claims etc SCHEDULE 52 Recovery of overpaid tax etc SCHEDULE 53 Late payment interest SCHEDULE 54 Repayment interest Schedule 54A Further provision as to late payment interest and repayment interest SCHEDULE 55 Penalty for failure to make returns etc SCHEDULE 56 Penalty for failure to make payments on time SCHEDULE 57 Amendments relating to penalties SCHEDULE 58 Recovery of debts under PAYE regulations SCHEDULE 59 Climate change levy: removal of reduced rate SCHEDULE 60 Landfill tax: prescribed landfill site activities SCHEDULE 61 Alternative finance investment bonds
What to do with it
As published
6 Additional rate, dividend additional rate, trust rates and pension tax rates
(1) Section 6 of ITA 2007 (rates of income tax) is amended as follows.
(2) In subsection (1), omit the “and” at the end of paragraph (b) and insert at the end
, and
(d) the additional rate.
(3) In subsection (3)(b), for “and dividend upper rate” substitute “ , dividend upper rate and dividend additional rate ”.
(4) In section 9 (trust rate and dividend trust rate)—
(a) in subsection (1), for “40%” substitute “ 50% ”, and
(b) in subsection (2), for “32.5%” substitute “ 42.5% ”.
(5) Schedule 2 contains provision supplementing this section (including provision about rates under Part 4 of FA 2004).
(6) The amendments made by this section have effect for the tax year 2010-11 and subsequent tax years.
Your wording
Your change, as a redline
6 Additional rate, dividend additional rate, trust rates and pension tax rates
(1) Section 6 of ITA 2007 (rates of income tax) is amended as follows.
(2) In subsection (1), omit the “and” at the end of paragraph (b) and insert at the end
, and
(d) the additional rate.
(3) In subsection (3)(b), for “and dividend upper rate” substitute “ , dividend upper rate and dividend additional rate ”.
(4) In section 9 (trust rate and dividend trust rate)—
(a) in subsection (1), for “40%” substitute “ 50% ”, and
(b) in subsection (2), for “32.5%” substitute “ 42.5% ”.
(5) Schedule 2 contains provision supplementing this section (including provision about rates under Part 4 of FA 2004).
(6) The amendments made by this section have effect for the tax year 2010-11 and subsequent tax years.
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.