Finance act 2006
Enactment Date | 31 March 2006 |
Act Number | 6 |
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Number 6 of 2006 |
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FINANCE ACT 2006 |
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ARRANGEMENT OF SECTIONS |
PART 1 |
Income Tax, Corporation Tax and Capital Gains Tax |
Chapter 1 |
Interpretation |
Section |
1. Interpretation (Part 1). |
Chapter 2 |
Income Tax |
2. Amendment of section 15 (rate of charge) of Principal Act. |
3. Personal tax credits. |
4. Age exemption. |
5. Amendment of section 467 (employed person taking care of incapacitated individual) of Principal Act. |
6. Amendment of section 472C (relief for trade union subscriptions) of Principal Act. |
7. Amendment of section 473 (allowance for rent paid by certain tenants) of Principal Act. |
8. Relief for service charges. |
9. Amendment of section 248 (relief to individuals on loans applied in acquiring interest in companies) of Principal Act. |
10. Amendment of Schedule 13 (accountable persons for purposes of Chapter 1 of Part 18) to Principal Act. |
11. Computational rules and allowable deductions. |
12. Amendment of section 664 (relief for certain income from leasing of farm land) of Principal Act. |
13. Childcare services relief. |
14. Retirement benefits. |
15. Remittance basis of assessment. |
16. Deduction of tax under PAYE. |
17. Limitation on amount of certain reliefs used by certain high income individuals. |
Chapter 3 |
Income Tax, Corporation Tax and Capital Gains Tax |
18. Amendment of section 481 (relief for investment in films) of Principal Act. |
19. Amendment of section 659 (farming: allowances for capital expenditure on the construction of farm buildings etc., for control of pollution) of Principal Act. |
20. Donation of designated securities to approved bodies. |
21. Amendment of section 373 (interpretation (Part 11)) of Principal Act. |
22. Amendment of Chapter 3 (income tax and corporation tax) of Part 7 (income tax and corporation tax exemptions) of Principal Act. |
23. Amendment of Schedule 26A (donations to approved bodies, etc.) to Principal Act. |
24. Amendment of section 817 (schemes to avoid liability to tax under Schedule F) of Principal Act. |
25. Residential reliefs — various schemes. |
26. Restriction of expenditure incurred on the construction and refurbishment of certain industrial and commercial buildings. |
27. Capital allowances for hotels, holiday camps and holiday cottages. |
28. Capital allowances for sports injuries clinics. |
29. Capital allowances for multi-storey car parks. |
30. Capital allowances for industrial and commercial premises in urban renewal areas and commercial premises on living over the shop streets. |
31. Capital allowances for industrial and commercial premises in rural renewal areas. |
32. Capital allowances for park and ride facilities and related commercial premises. |
33. Capital allowances for industrial and commercial premises in town renewal areas. |
34. Capital allowances for buildings used for third level educational purposes. |
35. Capital allowances for qualifying private hospitals. |
36. Capital allowances for qualifying mental health centres. |
37. Capital allowances for convalescent homes, registered nursing homes and qualifying residential units. |
38. Capital allowances for buildings used for certain childcare purposes. |
39. Balancing charges for certain buildings and structures. |
40. Amendment of section 812 (taxation of income deemed to arise from transfers of right to receive interest from securities) of Principal Act. |
41. Amendment of Part 36A (special savings incentive accounts) of Principal Act. |
42. Pensions: incentive tax credits. |
43. Amendment of section 530 (interpretation (Chapter 2)) of Principal Act. |
44. Amendment of section 531 (payments to subcontractors in certain industries) of Principal Act. |
45. Common contractual funds. |
46. Treatment of certain dividends. |
47. Amendment of section 246 (interest payments by companies and to non-residents) of Principal Act. |
48. Amendment of Chapter 5 (policyholders — new basis) of Part 26 of Principal Act, etc. |
49. Amendment of Chapter 6 (certain foreign life policies — taxation and returns) of Part 26 of Principal Act. |
50. Certain matters relating to investment undertakings in Chapter 1A of Part 27 of Principal Act. |
51. Amendment of Chapter 4 (certain offshore funds — taxation and returns) of Part 27 of Principal Act. |
52. Securitisation companies and money market funds. |
53. Amendment of section 739G (taxation of unit holders in investment undertakings) of Principal Act. |
54. Amendment of section 713 (investment income reserved for policyholders) of Principal Act. |
55. Amendment of section 141 (distributions out of income from patent royalties) of Principal Act. |
56. Amendment of Chapter 7 (special measures on discontinuance of, and change of basis for computation of profits or gains of, a trade or profession) of Part 4 of Principal Act. |
57. Amendment of section 64 (interest on quoted Eurobonds) of Principal Act. |
58. Amendment of section 407 (restriction on use of losses and capital allowances for qualifying shipping trade) of Principal Act. |
59. Definition of assurance company. |
Chapter 4 |
Corporation Tax |
60. Implementation of Council Directive No. 2005/19/EC amending Directive 90/434/EEC concerning companies of different Member States, and certain other matters. |
61. Generally accepted accounting standards. |
62. Matching of foreign currency assets with certain foreign currency share capital. |
63. Amendment of Schedule 24 (relief from income tax and corporation tax by means of credit in respect of foreign tax) to Principal Act. |
64. Amendment of section 626B (exemption from tax in the case of gains on certain disposals of shares) of Principal Act. |
65. Amendment of section 247 (relief to companies on loans applied in acquiring interest in other companies) of Principal Act. |
66. Amendment of section 766 (tax credit for research and development expenditure) of Principal Act. |
67. Tonnage tax. |
68. Amendment of Chapter 4 (income tax and corporation tax: treatment of certain losses and certain capital allowances) of Part 12 of Principal Act. |
69. Amendment of Schedule 4 (exemption of specified non-commercial State sponsored bodies from certain tax provisions) to Principal Act. |
Chapter 5 |
Capital Gains Tax |
70. Amendment of section 598 (disposals of business or farm on “retirement”) of Principal Act. |
71. Amendment of section 599 (disposals within family of business or farm) of Principal Act. |
72. Amendment of section 603A (disposal of site to child) of Principal Act. |
73. Amendment of section 606 (disposals of work of art, etc., loaned for public display) of Principal Act. |
74. Amendment of Schedule 15 (list of bodies for purposes of section 610) to Principal Act. |
75. Amendment of Chapter 2 (capital gains tax) of Part 44 of Principal Act. |
76. Amendment of section 588 (demutualisation of assurance companies) of Principal Act. |
77. Amendment of Schedule 16 (building societies: change of status) to Principal Act. |
PART 2 |
Excise |
78. Amendment of section 75 (charging and rates) of Finance Act 2003. |
79. Rates of mineral oil tax. |
80. Amendment of section 94 (interpretation) of Finance Act 1999. |
81. Relief for biofuel. |
82. Amendment of penalties on summary conviction for certain excise offences. |
83. Amendment of section 153 (regulations) of Finance Act 2001. |
84. Amendment of section 81 (regulations) of Finance Act 2003. |
85. Amendment of section 104 (regulations) of Finance Act 1999. |
86. Amendment of section 8 (regulations) of Finance (Excise Duty on Tobacco Products) Act 1977. |
87. Amendment of section 83 (regulations) of Finance Act 2005. |
88. Remission or repayment in respect of vehicle registration tax on certain hybrid electric vehicles or certain flexible fuel vehicles. |
89. Amendment of section 141 (regulations) of Finance Act 1992. |
90. Amendment of section 67 (betting duty) of Finance Act 2002. |
91. Payment of betting duty. |
PART 3 |
Value-Added Tax |
92. Interpretation (Part 3). |
93. Amendment of section 1 (interpretation) of Principal Act. |
94. Amendment of section 5 (supply of services) of Principal Act. |
95. Amendment of section 8 (taxable persons) of Principal Act. |
96. Amendment of section 10 (amount on which tax is chargeable) of Principal Act. |
97. Amendment of section 11 (rates of tax) of Principal Act. |
98. Amendment of section 12 (deduction for tax borne or paid) of Principal Act. |
99. Amendment of section 32 (regulations) of Principal Act. |
100. Amendment of First Schedule to Principal Act. |
101. Amendment of Sixth Schedule to Principal Act. |
PART 4 |
Stamp Duties |
102. Interpretation (Part 4). |
103. Amendment of section 1 (interpretation) of Principal Act. |
104. Demutualisation of assurance companies. |
105. Amendment of section 81A (further relief from stamp duty in respect of transfers to young trained farmers) of Principal Act. |
106. Approved bodies. |
107. Reconstructions or amalgamations of certain funds. |
108. Courts Service. |
109. Single farm payment entitlement. |
110. Amendment of Part 8 (companies capital duty) of Principal Act. |
111. Amendment of section 123B (cash, combined and debit cards) of Principal Act. |
PART 5 |
Capital Acquisitions Tax |
112. Interpretation (Part 5). |
113. Amendment of section 6 (taxable gift) of Principal Act. |
114. Amendment of section 11 (taxable inheritance) of Principal Act. |
115. Amendment of section 77 (exemption of heritage property) of Principal Act. |
116. Amendment of Chapter 3 (annual levy on discretionary trusts) of Part 3 of Principal Act. |
117. Discretionary trusts: returns. |
118. Amendment of Part 10 (reliefs) of Principal Act. |
119. Amendment of section 104 (allowance for capital gains tax on the same event) of Principal Act. |
PART 6 |
Miscellaneous |
120. Interpretation (Part 6). |
121. Amendment of section 1003 (payment of tax by means of donation of... |
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