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Finance Act 2016 (No. 18)Introductory TextActs Referred ToPart 1 Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-30)Chapter 1 Interpretation (s. 1)1. Interpretation (Part 1)Chapter 2 Universal Social Charge (s. 2)2. Amendment of section 531AN of Principal Act (rate of charge)Chapter 3 Income Tax (ss. 3-14)3. Exemption in respect of certain expense payments for resident relevant directors4. Amendment of section 472AB of Principal Act (earned income tax credit)5. Amendment of section 466A of Principal Act (home carer tax credit)6. Fisher tax credit7. Amendment of section 480A of Principal Act (relief on retirement for certain income of certain sportspersons)8. Amendment of section 477B of Principal Act (home renovation incentive)9. Help to Buy10. Amendment of section 825C of Principal Act (special assignee relief programme)11. Amendment of section 823A of Principal Act (deduction for income earned in certain foreign states)12. Amendment of section 472AA of Principal Act (relief for long-term unemployed starting a business)13. Amendment of section 216A of Principal Act (rent-a-room relief)14. Retirement benefitsChapter 4 Income Tax, Corporation Tax and Capital Gains Tax (ss. 15-23)15. Living City Initiative16. Amendment of section 97 of Principal Act (computational rules and allowable deductions)17. Amendment of section 285A of Principal Act (acceleration of wear and tear allowances for certain energy-efficient equipment)18. Amendment of section 657 of Principal Act (averaging of farm profits)19. Amendment of section 288 of Principal Act (balancing allowances and balancing charges)20. Employment and investment incentive and seed capital scheme21. Amendment of Part 8 of Principal Act (annual payments, charges and interest)22. Amendment of section 110 of Principal Act (securitisation)23. Amendment of Part 27 of Principal Act (unit trusts and offshore funds)Chapter 5 Corporation Tax (ss. 24-25)24. Amendment of section 891H of Principal Act (country-by-country reporting)25. Amendment of Part 38 of Principal Act (returns of income and gains, other obligations and returns, and Revenue powers)Chapter 6 Capital Gains Tax (ss. 26-30)26. Amendment of section 597AA of Principal Act (revised entrepreneur relief)27. Non-resident trusts28. Amendment of section 598 of Principal Act (disposals of business or farm on "retirement")29. Amendment of section 604B of Principal Act (relief for farm restructuring)30. Amendment of section 613 of Principal Act (miscellaneous exemptions for certain kinds of property)Part 2 Excise (ss. 31-44)31. Amendment of Chapter 1 of Part 2 of Finance Act 2001 (interpretation, liability and payment)32. Amendment of Chapter 2A of Part 2 of Finance Act 2001 (intra-European Union movement under a suspension arrangement)33. Amendment of section 122 of Finance Act 2001 (offences in relation to false returns, claims, etc.)34. Amendment of Chapter 5 of Part 2 of Finance Act 2001 (miscellaneous)35. Amendment of Chapter 4 of Part 2 of Finance Act 2001 (powers of officers)36. Rates of tobacco products tax37. Amendment of section 78A of Finance Act 2003 (relief for small breweries)38. Amendment of Chapter 1 of Part 2 of Finance Act 1999 (mineral oil tax)39. Amendment of section 97 of Finance Act 2001 (excisable products (Part 2))40. Amendment of section 67 of Finance Act 2010 (charging and rates of natural gas carbon tax)41. Amendment of Chapter 2 of Part 3 of Finance Act 2010 (natural gas carbon tax)42. Amendment of Chapter 3 of Part 3 of Finance Act 2010 (solid fuel carbon tax)43. Amendment of section 100 of Finance Act 1999 (mineral oil tax)44. Amendment of section 135C of Finance Act 1992 (remission or repayment in respect of vehicle registration tax, etc.)Part 3 Value-Added Tax (ss. 45-47)45. Interpretation (Part 3)46. Amendment of section 61 of Principal Act (apportionment for dual-use inputs)47. Flat-rate scheme for farmersPart 4 Stamp Duties (ss. 48-50)48. Interpretation (Part 4)49. National Concert Hall50. Amendment of section 126AA of Principal Act (further levy on certain financial institutions)Part 5 Capital Acquisitions Tax (ss. 51-53)51. Interpretation (Part 5)52. Amendment of section 86 of Principal Act (exemption relating to certain dwellings)53. Amendment of Schedule 2 to Principal Act (computation of tax)Part 6 Miscellaneous (ss. 54-59)54. Interpretation (Part 6)55. Tax treatment of married persons and civil partners56. Penalties for deliberately or carelessly making incorrect returns, etc.57. Amendment of section 1086 of Principal Act (publication of names of tax defaulters)58. Care and management of taxes and duties59. Short title, construction and commencement
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Version status: Partly in force | Document consolidation status: No known changes
Published date: 25 December 2016

Finance Act 2016 (No. 18)

Introductory Text
Acts Referred To
Part 1 Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-30)
Chapter 1 Interpretation (s. 1)
1. Interpretation (Part 1)
Chapter 2 Universal Social Charge (s. 2)
2. Amendment of section 531AN of Principal Act (rate of charge)
Chapter 3 Income Tax (ss. 3-14)
3. Exemption in respect of certain expense payments for resident relevant directors
4. Amendment of section 472AB of Principal Act (earned income tax credit)
5. Amendment of section 466A of Principal Act (home carer tax credit)
6. Fisher tax credit
7. Amendment of section 480A of Principal Act (relief on retirement for certain income of certain sportspersons)
8. Amendment of section 477B of Principal Act (home renovation incentive)
9. Help to Buy
10. Amendment of section 825C of Principal Act (special assignee relief programme)
11. Amendment of section 823A of Principal Act (deduction for income earned in certain foreign states)
12. Amendment of section 472AA of Principal Act (relief for long-term unemployed starting a business)
13. Amendment of section 216A of Principal Act (rent-a-room relief)
14. Retirement benefits
Chapter 4 Income Tax, Corporation Tax and Capital Gains Tax (ss. 15-23)
15. Living City Initiative
16. Amendment of section 97 of Principal Act (computational rules and allowable deductions)
17. Amendment of section 285A of Principal Act (acceleration of wear and tear allowances for certain energy-efficient equipment)
18. Amendment of section 657 of Principal Act (averaging of farm profits)
19. Amendment of section 288 of Principal Act (balancing allowances and balancing charges)
20. Employment and investment incentive and seed capital scheme
21. Amendment of Part 8 of Principal Act (annual payments, charges and interest)
22. Amendment of section 110 of Principal Act (securitisation)
23. Amendment of Part 27 of Principal Act (unit trusts and offshore funds)
Chapter 5 Corporation Tax (ss. 24-25)
24. Amendment of section 891H of Principal Act (country-by-country reporting)
25. Amendment of Part 38 of Principal Act (returns of income and gains, other obligations and returns, and Revenue powers)
Chapter 6 Capital Gains Tax (ss. 26-30)
26. Amendment of section 597AA of Principal Act (revised entrepreneur relief)
27. Non-resident trusts
28. Amendment of section 598 of Principal Act (disposals of business or farm on "retirement")
29. Amendment of section 604B of Principal Act (relief for farm restructuring)
30. Amendment of section 613 of Principal Act (miscellaneous exemptions for certain kinds of property)
Part 2 Excise (ss. 31-44)
31. Amendment of Chapter 1 of Part 2 of Finance Act 2001 (interpretation, liability and payment)
32. Amendment of Chapter 2A of Part 2 of Finance Act 2001 (intra-European Union movement under a suspension arrangement)
33. Amendment of section 122 of Finance Act 2001 (offences in relation to false returns, claims, etc.)
34. Amendment of Chapter 5 of Part 2 of Finance Act 2001 (miscellaneous)
35. Amendment of Chapter 4 of Part 2 of Finance Act 2001 (powers of officers)
36. Rates of tobacco products tax
37. Amendment of section 78A of Finance Act 2003 (relief for small breweries)
38. Amendment of Chapter 1 of Part 2 of Finance Act 1999 (mineral oil tax)
39. Amendment of section 97 of Finance Act 2001 (excisable products (Part 2))
40. Amendment of section 67 of Finance Act 2010 (charging and rates of natural gas carbon tax)
41. Amendment of Chapter 2 of Part 3 of Finance Act 2010 (natural gas carbon tax)
42. Amendment of Chapter 3 of Part 3 of Finance Act 2010 (solid fuel carbon tax)
43. Amendment of section 100 of Finance Act 1999 (mineral oil tax)
44. Amendment of section 135C of Finance Act 1992 (remission or repayment in respect of vehicle registration tax, etc.)
Part 3 Value-Added Tax (ss. 45-47)
45. Interpretation (Part 3)
46. Amendment of section 61 of Principal Act (apportionment for dual-use inputs)
47. Flat-rate scheme for farmers
Part 4 Stamp Duties (ss. 48-50)
48. Interpretation (Part 4)
49. National Concert Hall
50. Amendment of section 126AA of Principal Act (further levy on certain financial institutions)
Part 5 Capital Acquisitions Tax (ss. 51-53)
51. Interpretation (Part 5)
52. Amendment of section 86 of Principal Act (exemption relating to certain dwellings)
53. Amendment of Schedule 2 to Principal Act (computation of tax)
Part 6 Miscellaneous (ss. 54-59)
54. Interpretation (Part 6)
55. Tax treatment of married persons and civil partners
56. Penalties for deliberately or carelessly making incorrect returns, etc.
57. Amendment of section 1086 of Principal Act (publication of names of tax defaulters)
58. Care and management of taxes and duties
59. Short title, construction and commencement
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