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Number 5 of 2005
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FINANCE ACT 2005
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ARRANGEMENT OF SECTIONS
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PART 1
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Income Tax, Corporation Tax and Capital Gains Tax
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Chapter 1
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Interpretation
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Section
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1.
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Interpretation (Part 1).
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Chapter 2
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Income Tax
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2.
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Amendment of section 15 (rate of charge) of Principal Act.
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3.
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Personal tax credits.
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4.
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Age exemption.
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5.
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Amendment of section 126 (tax treatment of certain benefits payable under Social Welfare Acts) of Principal Act.
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6.
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Amendment of section 473 (allowance for rent paid by certain tenants) of Principal Act.
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7.
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Amendment of section 116 (interpretation (Chapter 3)) of Principal Act.
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8.
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Amendment of section 118 (benefits in kind: general charging provision) of Principal Act.
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9.
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Preferential loans.
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10.
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Costs and expenses in respect of personal security assets and services.
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11.
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Foster care payments etc.
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12.
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State employees: foreign service allowances.
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13.
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Credit in respect of tax deducted from emoluments of certain directors.
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14.
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Amendment of section 950 (interpretation (Part 41)) of Principal Act.
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15.
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Amendment of Chapter 1 (payments in respect of professional services by certain persons) of Part 18 of, and Schedule 13 to, Principal Act.
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16.
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Amendment of section 128 (tax treatment of directors of companies and employees granted rights to acquire shares or other assets) of Principal Act.
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17.
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Restriction of deductions for employee benefit contributions.
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18.
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Amendment of section 130 (matters to be treated as distributions) of Principal Act.
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19.
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Reliefs in respect of income tax charged on payments on retirement.
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20.
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Tax rate applicable to certain deposit interest received by individuals.
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21.
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Retirement benefits.
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Chapter 3
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PAYE: Electronic and Telephone Communications
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22.
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Amendment of Chapter 6 (electronic transmission of returns of income, profits, etc., and of other Revenue returns) of Part 38 of Principal Act.
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23.
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Electronic claims.
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24.
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Amendment of provisions relating to claims by individuals.
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25.
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Retention and inspection of records in relation to claims by individuals.
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26.
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Amendment of section 997 (supplementary provisions (Chapter 4)) of Principal Act.
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Chapter 4
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Income Tax, Corporation Tax and Capital Gains Tax
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27.
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Amendment of section 18 (amendment of Part 16 (income tax relief for investment in corporate trades — business expansion scheme and seed capital scheme) of Principal Act) of Finance Act 2004.
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28.
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Amendment of section 482 (relief for expenditure on significant buildings and gardens) of Principal Act.
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29.
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Amendment of Chapter 1 (interpretation and general) of Part 23 (farming and market gardening) of Principal Act.
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30.
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Amendment of section 659 (farming: allowances for capital expenditure on the construction of farm buildings, etc., for control of pollution) of Principal Act.
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31.
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Amendment of section 666 (deduction for increase in stock values) of Principal Act.
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32.
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Amendment of section 667A (further provisions for qualifying farmers) of Principal Act.
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33.
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Amendment of section 843 (capital allowances for buildings used for third level educational purposes) of Principal Act.
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34.
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Capital allowances for registered tourist accommodation.
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35.
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Amendment of section 372AJ (non-application of relief in certain cases and provision against double relief) of Principal Act.
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36.
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Amendment of section 481 (relief for investment in films) of Principal Act.
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37.
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Amendment of section 1013 (limited partnerships) of Principal Act.
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38.
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Amendment of Schedule 26A (donations to approved bodies, etc.) to Principal Act.
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39.
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Amendment of section 817 (schemes to avoid liability to tax under Schedule F) of Principal Act.
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40.
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Court funds.
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41.
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Assets of overseas life assurance companies.
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42.
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Amendment of Chapter 5 (policyholders — new basis) of Part 26 of Principal Act.
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43.
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Amendment of section 747E (disposal of an interest in offshore funds) of Principal Act.
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44.
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Common contractual funds.
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45.
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Treatment of leasing.
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46.
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Treatment of certain dividends.
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47.
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Dividend withholding tax.
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Chapter 5
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Corporation Tax
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48.
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Generally accepted accounting standards.
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49.
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Amendment of section 243 (allowance of charges on income) of Principal Act.
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50.
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Amendment of Chapter 6 (Implementation of Council Directive 2003/49/EC of 3 June 2003 on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States) of Part 8 of Principal Act.
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51.
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Amendment of Chapter 2 (Miscellaneous) of Part 35 of Principal Act.
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52.
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Amendment of section 410 (group payments) of Principal Act.
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53.
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Amendment of section 448 (relief from corporation tax) of Principal Act.
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54.
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Amendment of section 626B (exemption from tax in the case of gains on certain disposals of shares) of Principal Act.
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55.
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Cesser of section 686 (reduction of corporation tax) of Principal Act.
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Chapter 6
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Capital Gains Tax
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56.
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Amendment of section 980 (deduction from consideration on disposal of certain assets) of Principal Act.
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57.
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Amendment of Schedule 15 (list of bodies for purposes of section 610) to Principal Act.
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58.
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Amendment of section 608 (superannuation funds) of Principal Act.
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PART 2
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Excise
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Chapter 1
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Alcohol Products Tax
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59.
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Amendment of section 134 (power to stop vehicles) of Finance Act 2001.
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60.
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Amendment of section 139 (power of arrest and detention of persons) of Finance Act 2001.
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61.
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Amendment of section 73 (interpretation) of Finance Act 2003.
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62.
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Amendment of section 79 (offences and penalties) of Finance Act 2003.
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63.
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Amendment of Chapter 1 of Part 2 (alcohol products tax) of Finance Act 2003.
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Chapter 2
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Mineral Oil Tax
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64.
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Rates of mineral oil tax.
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65.
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Amendment of section 94 (interpretation) of Finance Act 1999.
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66.
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Amendment of section 95 (charge of tax) of Finance Act 1999.
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67.
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Amendment of section 100 (reliefs from mineral oil tax for certain mineral oils) of Finance Act 1999.
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68.
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Amendment of section 103 (presumptions in certain proceedings) of Finance Act 1999.
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69.
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Amendment of Chapter 1 (mineral oil tax) of Part 2 of Finance Act 1999.
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70.
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Commencement.
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Chapter 3
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Tobacco Products Tax
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71.
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Interpretation (Chapter 3).
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72.
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Charging and rates.
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73.
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Liability and payment.
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74.
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Deferment of payment.
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75.
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Ascertainment of retail prices of tobacco products.
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76.
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Affixing of tax stamps.
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77.
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Repayment or remission.
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78.
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Offences in relation to tax stamps.
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79.
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Retail price (offence and penalty).
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80.
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Account of materials.
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81.
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Repeals, revocations and savings.
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82.
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General provisions and structure.
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83.
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Regulations.
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84.
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Continuity.
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85.
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Care and management.
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86.
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Commencement.
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Chapter 4
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Miscellaneous Excise and Customs
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87.
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Amendment of Finance (Excise Duty on Tobacco Products) Act 1977.
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88.
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Amendment of section 96 (interpretation) of Finance Act 2001.
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89.
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Amendment of section 97 (excisable products (Part 2)) of Finance Act 2001.
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90.
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Amendment of section 103 (payment) of Finance Act 2001.
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91.
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Amendment of section 109 (warehousing) of Finance Act 2001.
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92.
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Amendment of section 110 (scope (Chapter 2)) of Finance Act 2001.
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93.
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Amendment of Part 2 (general excise law) of Finance Act 2001.
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94.
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Amendment of section 144 (power to deal with seizures, before and after condemnation) of Finance Act 2001.
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95.
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Miscellaneous excise repeals.
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96.
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Amendment of section 2 of Customs and Excise (Miscellaneous Provisions) Act 1988.
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97.
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Amendment of section 135C (remission or repayment in respect of vehicle registration tax on certain hybrid electric vehicles) of Finance Act 1992.
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PART 3
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Value-Added Tax
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98.
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Interpretation (Part 3).
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99.
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Amendment of section 3 (supply of goods) of Principal Act.
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100.
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Amendment of section 4 (special provisions in relation to the supply of immovable goods) of Principal Act.
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101.
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Amendment of section 5 (supply of services) of Principal Act.
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102.
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Amendment of section 10 (amount on which tax is chargeable) of Principal Act.
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103.
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Amendment of section 11 (rates of tax) of Principal Act.
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104.
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Amendment of section 12 (deduction for tax borne or paid) of Principal Act.
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105.
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Amendment of section 12A (special provisions for tax invoiced by flat-rate farmers) of Principal Act.
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106.
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Amendment of section 19 (tax due and payable) of Principal Act.
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107.
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Amendment of section 19A (statement of intra-Community supplies) of Principal Act.
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108.
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Amendment of section 24 (recovery of tax) of Principal Act.
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109.
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Amendment of section 26 (penalties generally) of Principal Act.
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110.
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Amendment of section 27 (fraudulent returns, etc.) of Principal Act.
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111.
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Amendment of section 32 (regulations) of Principal Act.
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112.
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Amendment of First Schedule to Principal Act.
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113.
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Amendment of Sixth Schedule to Principal Act.
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PART 4
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Stamp Duties
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114.
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Interpretation (Part 4).
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115.
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Amendment of section 8 (facts and circumstances affecting duty to be set forth in instruments, etc.) of Principal Act.
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116.
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Amendment of section 40 (calculation of ad valorem duty on stock and securities) of Principal Act.
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117.
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Aggregation of transactions.
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1...
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