DOCSLIB.ORG

Finance Act 2002

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Finance Act 2002 Status: This version of this Act contains provisions that are prospective. Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2002. Any changes that have already been made by the team appear in the content and are referenced with annotations. (See end of Document for details) View outstanding changes Finance Act 2002 2002 CHAPTER 23 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. [24th July 2002] 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:— Modifications etc. (not altering text) C1 Act modified (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271), regs. 37-41 (as amended (with effect in accordance with reg. 1(2) of the amending S.I.) by The Overseas Life Insurance Companies (Amendment) Regulations 2007 (S.I. 2007/2146), regs. 22-24) C2 Act applied in part (with modifications) by 2009 c. 4, Sch. 2 para. 131 (as amended) (29.3.2007) by The Corporation Tax (Taxation of Films) (Transitional Provisions) Regulations 2007 (S.I. 2007/1050), regs. 1(1), 3-12 (as amended (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 2 para. 131 (with Sch. 2 Pts. 1, 2)) C3 Act modified (21.2.2009) by The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (S.I. 2009/317), arts. 1, 3, Sch. 2 Finance Act 2002 (c. 23) Part 1 – Excise duties Document Generated: 2021-08-23 Status: This version of this Act contains provisions that are prospective. Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2002. Any changes that have already been made by the team appear in the content and are referenced with annotations. (See end of Document for details) View outstanding changes PART 1 EXCISE DUTIES Tobacco products duty 1 Rates of tobacco products duty (1) For the Table of rates of duty in Schedule 1 to the Tobacco Products Duty Act 1979 (c. 7) substitute— TABLE 1. Cigarettes An amount equal to 22 per cent of the retail price plus £94.24 per thousand cigarettes. 2. Cigars £137.26 per kilogram. 3. Hand-rolling tobacco £98.66 per kilogram. 4. Other smoking tobacco and chewing £60.34 per kilogram. tobacco (2) This section shall be deemed to have come into force at 6 o’clock in the evening of 17th April 2002. Alcoholic liquor duties 2 Rates of duty on cider (1) In section 62(1A) of the Alcoholic Liquor Duties Act 1979 (c. 4) (rates of duty on cider)— (a) in paragraph (b) (rate of duty per hectolitre in the case of cider of a strength exceeding 7.5 per cent that is not sparkling cider), for “£39.21” substitute “ £38.43 ”; (b) in paragraph (c) (rate of duty per hectolitre in any other case), for “£26.13” substitute “ £25.61 ”. (2) This section shall be deemed to have come into force on 28th April 2002. 3 Duty on beverages made with spirits to be at spirits rate (1) Omit section 1(9) of the Alcoholic Liquor Duties Act 1979 (under which alcoholic beverages of a strength between 1.2 and 5.5 per cent made with spirits are treated as not being spirits, unless of a description specified by Treasury order). (2) This section shall be deemed to have come into force on 28th April 2002. 4 Reduced rates of duty on beer from small breweries (1) Schedule 1 to this Act (which makes provision for the excise duty on beer to be charged at reduced rates on beer produced in small breweries) has effect. Finance Act 2002 (c. 23) 3 Part 1 – Excise duties Document Generated: 2021-08-23 Status: This version of this Act contains provisions that are prospective. Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2002. Any changes that have already been made by the team appear in the content and are referenced with annotations. (See end of Document for details) View outstanding changes (2) Subject to subsection (3), subsection (1) shall be deemed to have come into force on 1st June 2002. (3) So far as relating to— (a) the insertion by paragraph 2 of that Schedule of the new section 36H of the Alcoholic Liquor Duties Act 1979, and (b) paragraph 3 of that Schedule, subsection (1) comes into force on the day on which this Act is passed. Commencement Information I1 S. 4 wholly in force; s. 4(1) in force at 1.6.2002 for specified purposes, otherwise s. 4 in force at 24.7.2002, see s. 4(2)(3) Hydrocarbon oil duties 5 Biodiesel (1) The Hydrocarbon Oil Duties Act 1979 (c. 5) is amended as follows. (2) After section 2 insert— “2AA Biodiesel (1) In this Act “biodiesel” means diesel quality liquid fuel— (a) that is produced from biomass or waste cooking oil, (b) the ester content of which is not less than 96.5% by weight, and (c) the sulphur content of which does not exceed 0.005% by weight or is nil. (2) In subsection (1)— (a) “diesel quality” means capable of being used for the same purposes as heavy oil; (b) “liquid” does not include any substance that is gaseous at a temperature of 15°C and under a pressure of 1013.25 millibars; (c) “biomass” means vegetable and animal substances constituting the biodegradable fraction of— (i) products, wastes and residues from agriculture, forestry and related activities, or (ii) industrial and municipal waste.”. F1(3) . (4) After section 6 (excise duty on hydrocarbon oil) insert— “6AA Excise duty on biodiesel (1) A duty of excise shall be charged on the setting aside for a chargeable use by any person, or (where it has not already been charged under this section) on the chargeable use by any person, of biodiesel. 4 Finance Act 2002 (c. 23) Part 1 – Excise duties Document Generated: 2021-08-23 Status: This version of this Act contains provisions that are prospective. Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2002. Any changes that have already been made by the team appear in the content and are referenced with annotations. (See end of Document for details) View outstanding changes (2) In subsection (1) “chargeable use” means use— (a) as fuel for any engine, motor or other machinery, or (b) as an additive or extender in any substance so used. (3) The rate of duty under this section shall be £0.2582 a litre. 6AB Excise duty on blends of biodiesel and heavy oils (1) A duty of excise shall be charged on bioblend— (a) imported into the United Kingdom, or (b) produced in the United Kingdom and delivered for home use from a refinery or from other premises used for the production of hydrocarbon oil or from any bonded storage for hydrocarbon oil, not being bioblend chargeable with duty under paragraph (a) above. This is subject to subsection (6) below. (2) In this Act “bioblend” means any mixture that is produced by mixing— (a) biodiesel, and (b) heavy oil not charged with the excise duty on hydrocarbon oil. (3) The rate at which the duty shall be charged on any bioblend shall be a composite rate representing— (a) in respect of the proportion of the bioblend that is hydrocarbon oil, the rate that would be applicable to the bioblend if it consisted entirely of heavy oil of the description that went into producing the bioblend, and (b) in respect of the proportion of the bioblend that is biodiesel, the rate that would be applicable to the bioblend if it consisted entirely of biodiesel. (4) The references in subsection (3) above to the proportions of— (a) hydrocarbon oil, and (b) biodiesel, are to the proportions by volume to the nearest 0.001%. (5) If the Commissioners are not satisfied as to the proportion of biodiesel in any bioblend, the rate of duty chargeable shall be the rate that would be applicable to the bioblend if it consisted entirely of heavy oil of the description that went into producing the bioblend. (6) Where imported bioblend is removed to a refinery, the duty chargeable under subsection (1) above shall, instead of being charged at the time of the importation of the bioblend, be charged on the delivery of any goods from the refinery for home use and shall be the same as that which would be payable on the importation of like goods. 6AC Application to biodiesel and bioblend of provisions relating to hydrocarbon oil (1) The Commissioners may by regulations provide for— (a) references in this Act, or specified references in this Act, to hydrocarbon oil to be construed as including references to— Finance Act 2002 (c.
Load more

Recommended publications
  • Notes on Finance Bill 2015 Resolutions
    Notes on Finance Bill 2015 Resolutions 1. Amendment of the law Authorises the Finance Bill to contain those provisions which do not impose or increase a tax charge, in particular provisions that give relief from tax or which deal with tax administration. It also restricts the scope for amendments to VAT. 2. Income tax (charge and main rates) Provides for the charge and main rates to apply for the 2015-16 tax year. 3. Income tax (limits and allowances) Provides for the amount of the income limit for the personal allowance for those born before 6 April 1938, the blind person’s allowance, the minimum amount of the tax reduction for married couples and civil partners; the tax reduction for married couples and civil partners and the income limit for the tax reduction for married couples and civil partners for the 2015-16 tax year. 4. Personal allowances for 2015-2016 Provides for the personal allowance for those born after 5 April 1938 and the amount of the transferable tax allowance for married couples and civil partners for 2015-16. 5. Corporation tax (charge and main rate for financial year 2016) Authorises the Finance Bill to contain provision for corporation tax to be charged for the financial year 2016 (the year beginning 1 April 2016) and for that year the main rate to be 20%. 6. Taxable benefits (diesel cars) Provides for the Finance Bill to contain provision for a change to Chapter 6 of Part 3 of the Income Tax (Earnings and Pensions) Act 2003 (taxable benefits: cars, vans and related benefits) to be introduced to increase the maximum appropriate percentage for diesel cars to 37% for the tax year 2015-16.
    [Show full text]
  • Notes for Guidance - Taxes Consolidation Act 1997 Finance Act 2020 Edition
    Notes for Guidance - Taxes Consolidation Act 1997 Finance Act 2020 edition Part 7 Income Tax and Corporation Tax Exemptions December 2020 The information in this document is provided as a guide only and is not professional advice, including legal advice. It should not be assumed that the guidance is comprehensive or that it provides a definitive answer in every case. tes for Guidance – Taxes Consolidation Act 1997 – Finance Act 2020 Edition - Part 7 Notes for Guidance - Taxes Consolidation Act 1997 Finance Act 2020 edition Part 7 Income Tax and Corporation Tax Exemptions CHAPTER 1 Income tax 187 Exemption from income tax and associated marginal relief 188 Age exemption and associated marginal relief 189 Payments in respect of personal injuries 189A Special trusts for permanently incapacitated individuals 190 Certain payments made by the Haemophilia HIV Trust 191 Taxation treatment of Hepatitis C [and HIV] compensation payments 192 Payments in respect of thalidomide children 192A Exemption in respect of certain payments under employment law 192B Foster care payments etc. 192BA Exemption of certain payments made or authorised by Child and Family Agency 192C Exemption in respect of payments of State support 192D Exemption in respect of fuel grant 192E Exemption in respect of water conservation grant 192F Exemption in respect of certain Education-related payments 192G Exemption in respect of Training Allowance payments 192H Exemption in respect of Mobility Allowance 193 Income from scholarships 194 Child benefit 194A Early childcare supplement
    [Show full text]
  • Tax Dictionary T
    Leach’s Tax Dictionary. Version 9 as at 5 June 2016. Page 1 T T Tax code Suffix for a tax code. This suffix does not indicate the allowances to which a person is entitled, as do other suffixes. A T code may only be changed by direct instruction from HMRC. National insurance National insurance contribution letter for ocean-going mariners who pay the reduced rate. Other meanings (1) Old Roman numeral for 160. (2) In relation to tapered reduction in annual allowance for pension contributions, the individual’s adjusted income for a tax year (Finance Act 2004 s228ZA(1) as amended by Finance (No 2) Act 2015 Sch 4 para 10). (3) Tesla, the unit of measure. (4) Sum of transferred amounts, used to calculate cluster area allowance in Corporation Tax Act 2010 s356JHB. (5) For the taxation of trading income provided through third parties, a person carrying on a trade (Income Tax (Trading and Other Income) Act 2005 s23A(2) as inserted by Finance (No 2) Act 2017 s25(2)). (6) For apprenticeship levy, the total amount of levy allowance for a company unit (Finance Act 2016 s101(7)). T+ Abbreviation sometimes used to indicate the number of days taken to settle a transaction. T$ (1) Abbreviation: pa’anga, currency of Tonga. (2) Abbreviation: Trinidad and Tobago dollar. T1 status HMRC term for goods not in free circulation. TA (1) Territorial Army. (2) Training Agency. (3) Temporary admission, of goods for Customs purposes. (4) Telegraphic Address. (5) In relation to residence nil rate band for inheritance tax, means the amount on which tax is chargeable under Inheritance Tax Act 1984 s32 or s32A.
    [Show full text]
  • Explanatory Notes Finance Bill 2005
    Explanatory Notes Finance Bill 2005 May 2005 © Crown copyright 2005 Published with the permission of HM Treasury on behalf of the Controller of Her Majesty’s Stationery Office. The text in this document (excluding the Royal Coat of Arms and departmental logos) may be reproduced free of charge in any format or medium providing that it is reproduced accurately and not used in a misleading context. The material must be acknowledged as Crown copyright and the title of the document specified. Any enquiries relating to the copyright in this document should be sent to: The Licensing Division HMSO St Clements House 2-16 Colegate Norwich NR3 1BQ Fax: 01603 723000 E-mail: [email protected] HM Treasury contacts This document can be accessed from the Treasury Internet site at: www.hm-treasury.gov.uk For further information on the Treasury and its work, contact: Correspondence and Enquiry Unit HM Treasury 1 Horse Guards Road London SW1A 2HQ Tel: 020 7270 4558 Fax: 020 7270 4861 E-mail: [email protected] HM REVENUE AND CUSTOMS FINANCE BILL 2005 RESOLUTION 2 CLAUSE 1 EXPLANATORY NOTE CLAUSE 1: GOODS SUBJECT TO WAREHOUSING REGIME: PLACE OF ACQUISITION OR SUPPLY SUMMARY 1. Clause 1 confers on HM Revenue and Customs power to make regulations prescribing circumstances in which the relief from VAT applying to supplies of goods within customs warehouses, contained in section 18(1) of the VAT Act 1994, shall not apply. DETAILS OF THE CLAUSE 2. Supplies of goods within UK customs warehouses are treated as taking place outside the UK for VAT purposes.
    [Show full text]
  • HC 138 Published on 27 January 2005 by Authority of the House of Commons London: the Stationery Office Limited £17.50
    House of Commons Treasury Committee The 2004 Pre–Budget Report First Report of Session 2004–05 Report, together with formal minutes, oral and written evidence Ordered by The House of Commons to be printed 17 January 2005 HC 138 Published on 27 January 2005 by authority of the House of Commons London: The Stationery Office Limited £17.50 The Treasury Committee The Treasury Committee is appointed by the House of Commons to examine the expenditure, administration and policy of the HM Treasury and its associated public bodies. Current membership Rt Hon John McFall MP (Labour, Dumbarton) (Chairman) Mr Nigel Beard MP (Labour, Bexleyheath and Crayford) Mr Jim Cousins MP (Labour, Newcastle upon Tyne Central) Angela Eagle MP (Labour, Wallasey) Mr Michael Fallon MP (Conservative, Sevenoaks) Rt Hon David Heathcoat-Amory MP (Conservative, Wells) Norman Lamb MP (Liberal Democrat, Norfolk North) John Mann MP (Labour, Bassetlaw) Mr George Mudie MP (Labour, Leeds East) Mr James Plaskitt MP (Labour, Warwick and Leamington) Mr Robert Walter MP (Conservative, North Dorset) Powers The Committee is one of the departmental select committees, the powers of which are set out in the House of Commons Standing Orders, principally in SO No. 152. These are available on the Internet via www.parliament.uk The Committee has power to appoint a Sub-committee, which has similar powers to the main Committee, except that it reports to the main Committee, which then reports to the House. All members of the Committee are members of the Sub- committee, and its Chairman is Mr Michael Fallon. Publications The Reports and evidence of the Committee are published by The Stationery Office by Order of the House.
    [Show full text]
  • ———————— Number 9 of 2012 ———————— FINANCE ACT 2012 ———————— ARRANGEMENT of SECT
    ———————— Number 9 of 2012 ———————— FINANCE ACT 2012 ———————— ARRANGEMENT OF SECTIONS PART 1 Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax Chapter 1 Interpretation Section 1. Interpretation (Part 1). Chapter 2 Universal Social Charge 2. Universal social charge: miscellaneous amendments. 3. Universal social charge: surcharge on use of property incentives. Chapter 3 Income Levy and Income Tax 4. Share-based remuneration. 5. Amendment of Schedule 23A (specified occupations and professions) to Principal Act. 6. Amendment of section 470B (age-related relief for health insurance premiums) of Principal Act, etc. 7. Amendment of section 126 (tax treatment of certain benefits payable under Social Welfare Acts) of Principal Act. 8. Relief for key employees engaged in research and develop- ment activities. 9. Amendment of section 244 (relief for interest paid on certain home loans) of Principal Act. 1 [No. 9.]Finance Act 2012. [2012.] 10. Amendment of section 472A (relief for the long term unemployed) of Principal Act. 11. Amendment of section 473A (relief for fees paid for third level education, etc.) of Principal Act. 12. Deduction for income earned in certain foreign states. 13. Amendment of section 825B (repayment of tax where earn- ings not remitted) of Principal Act. 14. Special assignee relief programme. 15. Provisions relating to PAYE. 16. Changes relating to tax relief for lessors, carried forward losses and balancing charges. 17. Provisions in relation to property incentives and capital allowances. 18. Retirement benefits. Chapter 4 Income Tax, Corporation Tax and Capital Gains Tax 19. Amendment of section 176 (purchase of unquoted shares by issuing company or its subsidiary) of Principal Act.
    [Show full text]
  • Bill Explanatory Notes Introduction
    FINANCE (No. 3) BILL EXPLANATORY NOTES INTRODUCTION EXPLANATORY NOTES INTRODUCTION 1. These explanatory notes relate to the Finance (No. 3) Bill as introduced into Parliament on 31 March 2011. They have been prepared jointly by the HM Revenue & Customs and HM Treasury in order to assist the reader in understanding the Bill. They do not form part of the Bill and have not been endorsed by Parliament. 2. The notes are designed to be read alongside with the Bill. They are not, and are not meant to be, a comprehensive description of the Bill. So, where a section or part of a section does not seem to require any explanation or comment, none is given. FINANCE (No. 3) BILL RESOLUTION 2 CLAUSE 1 EXPLANATORY NOTE CLAUSE 1: CHARGE AND MAIN RATES FOR 2011-12 SUMMARY 1. Clause 1 imposes the income tax charge for 2011-12 and sets the basic rate of income tax at 20 per cent, the higher rate at 40 per cent and the additional rate at 50 per cent. DETAILS OF THE CLAUSE 2. Subsection (1) imposes the income tax charge for 2011-12. 3. Subsection (2)(a) sets the basic rate of income tax at 20 per cent. 4. Subsection (2)(b) sets the higher rate of income tax at 40 per cent. 5. Subsection (2)(c) sets the additional rate of income tax at 50 per cent. BACKGROUND NOTE 6. Income tax is an annual tax re-imposed by Parliament (even if the proposed rates are the same as for the previous year). The table below sets out the main rates and rate limits for 2011-12 and for reference includes the amounts for 2010-11: 2010-11 2011-12 Basic rate £0 - £37,400 at 20 per cent £0 - £35,000 at 20 per cent Higher rate £37,401 - £150,000 at 40 per £35,001 - £150,000 at 40 per cent cent Additional rate Over £150,000 at 50 per cent Over £150,000 at 50 per cent The basic rate limit of £35,000 as identified in the table above is set by clause 2 of this Bill.
    [Show full text]
  • January–June 2013
    Index January–June 2013 CONTENTS Subject Index 2 UK Statutes 14 Statutory Instruments 16 International Legislation 17 Law Reports 18 Table of Cases 19 Author Index 28 Book Reviews 30 Glossary 31 2 SUBJECT INDEX January—June 2013 | www.newlawjournal.co.uk Numbers in bold refer to issue seat of arbitration sufficiently indicated by silk convicted of tax fraud 7548:149 numbers, followed by page numbers the country chosen as the place of CAS refers to the Charities Appeals arbitration (law digest) 7550:237 Supplement sensitive approach shown to divorce C following Jewish arbitration (law in the headlines) 7548:153 charities A third party to arbitration agreement call for law firms to support Workplace (law digest) 7557:18 Giving 7550:221 abuse of process architects Charitable Incorporated former wife’s claim was abuse of process 7560:4 removal of architect’s name from register Organisations CAS(Summer):16 access to justice (law report) 7558:16 criminal record checks are undergoing significant access to justice debate (comment) 7543:7 armed forces changes CAS(Summer):8–9 age families of improperly equipped soldiers impact key measures in the latest budget may former partner in law firm loses age to be allowed to bring claims for have on charities CAS(Summer):5 discrimination claim 7563:4 their deaths 7566:5 pension deficit risk CAS(Summer):17 alcohol immigration of dependent adult children plans to transform the rehabilitation some of history’s most infamous and often of Gurkhas (law digest) 7546:107 agenda offer opportunities for tragic tipplers
    [Show full text]
  • Royal Mint Trading Fund
    Royal Mint Trading Fund Annual Report and Accounts 2014-15 Royal Mint Trading Fund | Annual Report and Accounts 2014-15 2 Royal Mint Trading Fund Annual Report and Accounts 2014-15 Presented to Parliament pursuant to section 4(6) of the Government Trading Funds Act 1973 as amended by the Government Trading Act 1990 Ordered by the House of Commons to be printed on 16 July 2015 HC 161 © Crown copyright 2015 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government- licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@ nationalarchives.gsi.gov.uk. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. This publication is available at www.gov.uk/government/ publications Any enquiries regarding this publication should be sent to us at the Office of Public Sector Information, Information Policy Team, Kew, Richmond, Surrey TW9 4DU or email: [email protected]. Print ISBN 9781474120913 Web ISBN 9781474120920 ID 04061511 06/15 Printed on paper containing 75% recycled fibre content minimum Printed in the UK on behalf of the Controller of Her Majesty’s Stationery Office Contents 05 Accounting Officer’s Statement 06 Report of the Chief Executive of The Royal Mint Limited 08 Management Commentary 18 Sustainability Report 22 Financial Summary 23 Key Ministerial Targets 24 The
    [Show full text]
  • Length of Legislation Paper
    LENGTH OF TAX LEGISLATION AS A MEASURE OF COMPLEXITY In his seminal Hardman lecture, Adam Broke pointed to the length of tax legislation, the language used, the drafting style and the diversity of taxes as all contributing to the complexity of the UK tax code1. To this list could also be added political pressures and policy initiatives, both of which impact on tax legislation. In addition to our specific reviews, the Office of Tax Simplification (“OTS”) is analysing the underlying problem of complexity in the tax system. This paper focuses on the length of legislation, although it must be recognised that all the contributing factors are interlinked to a certain extent. In 2009 it was reported that the UK tax code had exceeded that of India and, at 11,520 pages was the longest in the world2. Many of us remember when the Butterworths/Tolley’s Yellow Tax Handbook3 (or the equivalent CCH Green Book) was a much more manageable two (or even one!) volumes, instead of the five volumes that there are today. The increasing length of UK tax legislation is often cited as indicating that the tax system is becoming more complex. The aim of the work carried out by the OTS was to consider the extent to which length contributes to complexity. We also ascertained the actual length of the UK tax code and the increase in its length since the introduction of corporation tax in 1965. This paper is to look at the length of legislation in more detail than just by reference to the size of Tolley’s Yellow and Orange Tax Handbooks4 (the “Yellow Book” and the “Orange Book” respectively), although these have been considered in some detail.
    [Show full text]
  • Finance Act 2002
    Status: Point in time view as at 28/04/2002. This version of this Act contains provisions that are not valid for this point in time. Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2002. Any changes that have already been made by the team appear in the content and are referenced with annotations. (See end of Document for details) Finance Act 2002 2002 CHAPTER 23 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. [24th July 2002] 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:— PART 1 EXCISE DUTIES Tobacco products duty 1 Rates of tobacco products duty (1) For the Table of rates of duty in Schedule 1 to the Tobacco Products Duty Act 1979 (c. 7) substitute— TABLE 1.
    [Show full text]
  • Which Make General Adaptations of References in the Income Tax Acts to Certain Deductions) Are Not Always Acknowledged As the Origin of a Provision of the Bill
    ( 1 ) INCOME TAX (EARNINGS AND PENSIONS) BILL TABLE OF ORIGINS The following abbreviations are used in this Table– Acts of Parliament ICTA Income and Corporation Taxes Act 1988 (c. 1) FA 1988 Finance Act 1988 (c. 39) FA 1989 Finance Act 1989 (c. 26) FA 1991 Finance Act 1991 (c. 31) TCGA 1992 Taxation of Capital Gains Act 1992 (c. 12) FA 1994 Finance Act 1994 (c. 9) FA 1995 Finance Act 1995 (c. 4) FA 1996 Finance Act 1996 (c. 8) FA 1997 Finance Act 1997 (c. 16) FA 1998 Finance Act 1998 (c. 36) FA 1999 Finance Act 1999 (c. 16) FA 2000 Finance Act 2000 (c. 17) CAA 2001 Capital Allowances Act 2001 (c. 2) FA 2001 Finance Act 2001 (c. 9) SSCSOA 2001 Social Security Contributions (Share Options) Act 2001 (c. 20) FA 2002 Finance Act 2002 (c. 23) Other Abbreviations Annex 1, Annex 1 of the Explanatory Notes to the Bill. Change 1 etc. Annex 2, Annex 2 of the Explanatory Notes to the Bill. Note 1 etc. ESC Extra-statutory concession SE00500, etc. Schedule E Manual SP Statement of Practice In this Table sections 193(7), 194(10) and 195(11) of ICTA (which make general adaptations of references in the Income Tax Acts to certain deductions) are not always acknowledged as the origin of a provision of the Bill. ( 2 ) 1Drafting. 2Drafting. 3Drafting. 4 Annex 2, Note 1; drafting. 5 (1) The provisions on which this subsection is based are very numerous and so are not separately acknowledged. (2) Drafting. (3) Great Western Railway Co.
    [Show full text]