Capital Acquisitions Tax Consolidation Act 2003 (No. 1)

Version status: In force | Document consolidation status: Updated to reflect all known changes

Published date: 21 February 2003

Consolidation Status: Updated to reflect all known changes

Comparing proposed amendment...


	Introductory Text
	Acts Referred to
	Part 1 Preliminary (ss. 1-3)
In force	1. Short title.
In force	2. General interpretation.
In force	2A. Provisions relating to affected persons
In force	3. Meaning of "on a death".
	Part 2 Gift Tax (ss. 4-8)
In force	4. Charge of gift tax.
In force	5. Gift deemed to be taken.
In force	6. Taxable gift.
In force	7. Liability to gift tax in respect of gift taken by joint tenants.
In force	8. Disponer in certain connected dispositions.
	Part 3 Inheritance Tax (ss. 9-25)
	Chapter 1 General (ss. 9-13)
In force	9. Charge of inheritance tax.
In force	10. Inheritance deemed to be taken.
In force	11. Taxable inheritance.
In force	12. Disclaimer.
In force	13. Surviving joint tenant deemed to take an inheritance, etc.
	Chapter 2 Initial levy on discretionary trusts (ss. 14-18)
In force	14. Interpretation (Chapter 2).
In force	15. Acquisitions by discretionary trusts.
In force	16. Application of this Act.
In force	17. Exemptions.
In force	18. Computation of tax.
	Chapter 3 Annual levy on discretionary trusts (ss. 19-25)
In force	19. Interpretation (Chapter 3).
In force	20. Annual acquisitions by discretionary trusts.
In force	21. Application of this Act.
In force	22. Exemptions.
In force	23. Computation of tax.
In force	24. Values agreed.
Deleted	25. Penalty.
	Part 4 Value of Property for Tax (ss. 26-30)
In force	26. Market value of property.
In force	27. Market value of certain shares in private companies.
In force	28. Taxable value of a taxable gift or inheritance.
In force	29. Contingencies affecting gifts or inheritances.
In force	30. Valuation date for tax purposes.
	Part 5 Provisions Relating to Gifts and Inheritances (ss. 31-44)
In force	31. Distributions from discretionary trusts.
In force	32. Dealings with future interests.
In force	33. Release of limited interests, etc.
In force	34. Settlement of an interest not in possession.
In force	35. Enlargement of interests.
In force	36. Dispositions involving powers of appointment.
In force	37. Cesser of liabilities.
In force	38. Disposition enlarging value of property.
In force	39. Gift subject to power of revocation.
In force	40. Free use of property, free loans, etc.
In force	41. When interest in assurance policy becomes interest in possession.
In force	42. Provisions to apply where section 98 of Succession Act 1965 has effect.
In force	43. Disposition by or to a company.
In force	44. Arrangements reducing value of company shares.
	Part 6 Returns and Assessments (ss. 45-50)
In force	45. Accountable persons.
In force	45A. Obligation to retain certain records.
In force	45AA. Liability of certain persons in respect of non-resident beneficiaries.
In force	46. Delivery of returns
In force	46A. Expression of doubt.
In force	47. Signing of returns, etc.
In force	48. Affidavits and accounts.
In force	48A. Information about a deceased person's property
In force	49. Assessment of tax.
In force	50. Computation of tax.
	Part 7 Payment and Recovery of Tax, Interest and Penalties (ss. 51-65)
In force	51. Payment of tax and interest on tax.
In force	52. Set-off of gift tax paid in respect of an inheritance.
In force	53. Surcharge for undervaluation of property.
In force	53A. Surcharge for late returns.
In force	54. Payment of tax by instalments.
In force	55. Payment of tax on certain assets by instalments.
In force	56. Payment of inheritance tax by transfer of securities.
In force	57. Overpayment of tax.
In force	58. Penalties.
In force	59. Postponement, remission and compounding of tax.
Deleted	60. Tax to be a charge.
Deleted	61. Receipts and certificates.
In force	62. Certificate relating to registration of title based on possession.
In force	63. Recovery of tax and penalties.
Repealed	64. Application of certain income tax provisions in relation to the collection and recovery of capital acquisitions tax, etc.
Repealed	65. Evidence in proceedings for recovery of tax.
	Part 8 Appeals (ss. 66-68)
In force	66. Appeals regarding value of real property.
In force	67. Appeals in other cases.
In force	67A. Payment of tax following determination of an appeal
In force	68. Conditions before appeal may be made.
	Part 9 Exemptions (ss. 69-88A)
In force	69. Exemption of small gifts.
In force	70. Exemption for spouses or civil partners (gifts).
In force	71. Exemption for spouses or civil partners (inheritances).
In force	72. Relief in respect of certain policies of insurance.
In force	73. Relief in respect of certain policies of insurance relating to tax payable on gifts.
In force	74. Exemption of certain policies of assurance.
In force	75. Exemption of specified collective investment undertakings.
In force	76. Provisions relating to charities, etc.
In force	77. Exemption of heritage property.
In force	78. Heritage property of companies.
In force	79. Exemption of certain inheritances taken by parents.
In force	80. Payments relating to retirement, etc.
In force	81. Exemption of certain securities.
In force	82. Exemption of certain receipts.
In force	83. Exemption where disposition was made by the donee or successor.
In force	84. Exemption relating to qualifying expenses of incapacitated persons.
In force	85. Exemption relating to retirement benefits.
In force	86. Exemption relating to certain dwellings.
In force	87. Exemption of certain benefits.
In force	88. Exemption of certain transfers from capital acquisitions tax following the dissolution of marriage or civil partnership.
In force	88A. Certain transfers by qualified cohabitants.
	Part 10 Reliefs (ss. 89-107)
	Chapter 1 Agricultural relief (s. 89)
In force	89. Provisions relating to agricultural property.
	Chapter 2 Business relief (ss. 90-102)
In force	90. Interpretation (Chapter 2).
In force	91. Application (Chapter 2)
In force	92. Business relief.
In force	93. Relevant business property.
In force	94. Minimum period of ownership.
In force	95. Replacements.
In force	96. Succession.
In force	97. Successive benefits.
In force	98. Value of business.
In force	99. Value of certain shares and securities.
In force	100. Exclusion of value of excepted assets.
In force	101. Withdrawal of relief.
In force	102. Avoidance of double relief.
	Chapter 2A Clawback of agricultural relief or business relief: development land (s. 102A)
In force	102A. Agricultural and business property: development land.
	Chapter 3 Miscellaneous reliefs (ss. 103-107)
In force	103. Relief from double aggregation.
In force	104. Allowance for capital gains tax on the same event.
In force	105. Allowance for prior tax on the same event.
In force	106. Arrangements for relief from double taxation.
In force	107. Other relief from double taxation.
	Part 11 Miscellaneous (ss. 108-117)
Deleted	108. Certificates for probate.
In force	109. Payment of money standing in names of 2 or more persons.
In force	110. Court to provide for payment of tax.
In force	111. Liability to tax in respect of certain sales and mortgages.
In force	112. References in deeds and wills, etc. to death duties.
In force	113. Tax, in relation to certain legislation.
In force	114. Delivery, service and evidence of notices and forms, etc.
In force	115. Extension of certain Acts.
In force	116. Regulations.
In force	117. Care and management.
	Part 12 Repeals, etc. (ss. 118-120)
In force	118. Repeals.
In force	119. Consequential amendments to other enactments.
In force	120. Transitional provisions.
	Schedule 1 Valuation of Limited Interests
In force	Schedule 1, Part 1 Rules relating to the valuation of limited interests utilising Tables A and B in Parts 2 and 3 of this Schedule
In force	Schedule 1, Part 2
In force	Schedule 1, Part 3
	Schedule 2 Computation of tax
In force	Schedule 2, Part 1 Preliminary
In force	Schedule 2, Part 2
In force	Schedule 3 Consequential Amendments

Page overview

RELATED

Document overview

Set a date to view the document

Text comparison

Print / Export Options

Export

Report template

Alert me to changes

Bookmarks

Search within this document

Capital Acquisitions Tax Consolidation Act 2003 (No. 1)

Request a trial

The best way to experience Better Regulation is to try it - free and without obligation.

Set a date to view the document

Text comparison

Print / Export Options

Export

Report template

Alert me to changes

Bookmarks

Search within this document

Share

Capital Acquisitions Tax Consolidation Act 2003 (No. 1)

Log in

Request a trial

The best way to experience Better Regulation is to try it - free and without obligation.