Finance Act 1970

Part I Customs and Excise

1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Gaming licence duty.

3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7(1) . . . . . . . . ....

8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part II Income Tax and Corporation Tax

Chapter I General

11–14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18 Miscellaneous amendments of income tax and corporation tax law.

19–26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART III MISCELLANEOUS

27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28 Extension of class of securities exempt from tax on capital gains.

29 Taxation of mineral royalties.

30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

32 Abolition of certain stamp duties, and amendments as to rates and other matters.

33Composition by stock exchanges in respect of transfer duty

Other provisions

34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

36 Citation, interpretation, construction, extent and repeals.

SCHEDULE 1 Gaming Licence Duty

Part I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part II Supplemental

1–13. . . . . . . . . ....

14. . . . . . . . . ....

15. . . . . . . . . ....

Consequential amendments of Gaming Act 1968

16(1) . . . . . . . . ....

1–4. . . . . . . . . ....

5. . . . . . . . . ....

1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2–7. . . . . . . . . ....

8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE 4 Amendments of Income Tax Acts and Corporation Tax Acts

. . . . . . . . . ....

PART II Other Amendments

6. . . . . . . . . ....

7. . . . . . . . . ....

8. . . . . . . . . ....

9(1) . . . . . . . . ....

Inland Revenue procedures: returns and assessments

10In section 113 of the Management Act after subsection (1)...

11. . . . . . . . . ....

SCHEDULE 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1, 2. . . . . . . . . ....

Part II Terminal Loss Relief

3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part I Abolition of Certain Duties

Duties abolished as from 1st August 1970

1(1) This paragraph has effect as from 1st August 1970....

Duties abolished as from 1st February 1971

2(1) This paragraph has effect as from 1st February 1971....

Part II General Amendments

3This Part of this Schedule, except paragraph 5, has effect...

4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bond, covenant, etc.

7(1) The heading beginning “Bond, Covenant" in Schedule 1 to...

8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Conveyance or transfer on sale

10, 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12Section 59(4) of the Stamp Act 1891 (contract for sale...

13(1) Section 114 of the Stamp Act 1891 (composition for...

14In section 75(2) of the Stamp Act 1891 (duty of...

15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16(1) The heading beginning “Mortgage, Bond, Debenture, Covenant" in Schedule...

17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part III Special Provisions Connected with the New Currency

18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Late stamping etc.

19(1) Where immediately before 15th February 1971 any instrument chargeable...

SCHEDULE 8 Repeals

Part I Gaming Licence Duty

Part II Other Customs and Excise Repeals

Part III Occupational Pension Schemes

Part IV Stamp Duty Repeals having effect from 1st August 1970

Part V Stamp Duty Repeals having effect from 1st February 1971

This Part of this Schedule has effect as from 1st...

Part VI Miscellaneous Repeals

Part VII Obsolete or Unnecessary Provisions in Taxes Acts

Finance Act 1970

1970 c. 24

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.

[29th May 1970]C1 C2 I1 C3 X1 E1

Annotations:

Commencement Information

I1

Act partly in force at Royal Assent see individual sections. All provisions so far as unrepealed wholly in force at 1.2.1991.

Editorial Information

X1

General amendments to Tax Acts, Income Tax Acts, and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) but not against each Act

Extent Information

E1

For the extent of this Act see s. 36(7)

Modifications etc. (not altering text)

C1

Words of enactment omitted under authority of Statute Law Revision Act 1948 (c. 62), s. 3

C2

General amendments etc. to Tax Acts (or Income Tax Acts or Corporation Tax Acts as the case may be) made by Taxes Management Act 1970 (c. 9, SIF 63:1), s. 41A(7) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 95(1)(2), British Telecommunications Act 1981 (c. 38, SIF 96), s. 82(2)(7); Telecommunications Act 1984 (c. 12, SIF 96), s. 72(3); Finance Act 1984 (c. 43, SIF 63:1), ss. 82(6), 85(2), 89(1)(7), 96(1)(7), 98(7), Sch. 9 para. 3(2)(9), Sch. 16 paras. 6, 12 and Finance Act 1985 (c. 54, SIF 63:1), ss. 72(1), 74(5), Sch. 23 para. 15(4), S.I. 1987/530, regs. 11(2), 13(1), 14, Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss. 4, 6, 7, 9, 32, 34, 78, 134, 135, 141, 142, 185, 191, 193, 194, 195, 200, 203, 209, 212, 213, 219, 247, 253, 272, 287, 314, 315, 317, 318, 325, 326, 327, 345, 350, 351, 368, 375, 381, 397, 414, 432, 440, 442, 446, 458, 460, 461, 463, 463(2)(3) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 50(2) ), 468, 474, 475, 486, 490, 491, 503, 511, 518, 524, 532, 544, 550, 556, 558, 569, 572, 582, 595, 601, 613, 617, 619, 621, 639, 656, 660, 663, 676, 689, 691, 694, 700, 701, 714, 716, 739, 743, 754, 763, 776, 780, 781, 782, 787, 789, 811, 828, 829, 832, 833, 834, 835, 837, 838, 839, 840, 841, 842, Sch. 2 para. 5, Sch. 4 para. 5, Sch. 13 para. 10, Sch. 16 para. 10, Sch. 21 para. 6, Sch. 26 para. 1, Sch. 27 para. 20, Finance Act 1988 (c. 39, SIF 63:1), ss. 66, 127(1)(6), Sch. 12 para. 6, Capital Allowances Act 1990 (c. 1, SIF 63:1), ss. 28(1), 68(8), 74, 82, 83(5), 148(5), 163(4), 164(2), S.I. 1990/627 and Finance Act 1990 (c. 29, SIF 63:1), s. 25(10)

C3

Act amended (retrospectively) by Finance Act 1991 (c. 31, SIF 63:1), s. 36(4)(a)(b)