Income Tax Act 2007

1014 Orders and regulations U.K.

(1) This section applies to all powers under the Income Tax Acts of the Treasury or the Commissioners for Her Majesty's Revenue and Customs to make orders or regulations, other than excluded powers.

(2) All powers under the following are excluded—

(a) ICTA (see instead section 828 of that Act),

(b) section 178(5) of FA 1989 (setting of rates of interest),

F1 (ba) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c) CAA 2001 (see instead section 570B of that Act),

(d) ITEPA 2003 (see instead section 717 of that Act),

(e) Part 4 of FA 2004 (see instead section 282 of that Act),

(f) ITTOIA 2005 (see instead section 873 of that Act),

[F2 (fa) TIOPA 2010 (see instead section [F3 499] of that Act), and]

(g) the following provisions of this Act—

(i) section 184(3)(b) and (c) (EIS: the unquoted status requirement (designated exchanges etc)),

(ii) section 295(3)(b) and (c) (venture capital trusts: the unquoted status requirement (designated exchanges etc)),

[F4 (iia) section 432(2) (gifts of shares, securities and real property to charities etc: meaning of “qualifying investment”),] F5 ...

[F6 (iib) section 827(2) (meaning of “investment transaction”), F7 ...]

[F8 (iic) section 835S(4) (meaning of “investment transaction”), and]

(iii) section [F9 1005(1)] (meaning of “recognised stock exchange”).

(3) Any orders or regulations made under a power to which this section applies must be made by statutory instrument.

(4) Any orders or regulations made under a power to which this section applies are subject to annulment in pursuance of a resolution of the House of Commons.

(5) Subsection (4) does not apply if the order or regulations are made under—

(a) section 73A of FA 2004 (exemption for designated international organisations), or

(b) any of the following provisions of this Act—

[F10 (ai) section 10(5B) (the higher rate limit),]

(i) section 21(5) (indexation of [F11 basic rate limit and starting rate limit for savings] ),

(ii) section 57 (indexation of allowances),

F12 (iia) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(iii) section 114 or 802 (exclusion of amounts in calculating individual's contribution to the firm),

[F13 (iiia) section 257MNE (social investment relief: amendment of limits on investments),]

(iv) section 400(4)(e) (amounts treated as contributed by an individual to investment partnership capital),

(v) section 897 (UK public revenue dividends: regulations about collection of income tax),

(vi) section 962 (regulations modifying Chapter 15 of Part 15),

(vii) section 979 (designated international organisations: exceptions from duties to deduct),

(viii) section 991(2)(e) (meaning of “bank”), or

(ix) section 1030(2) (power to make transitional or saving provision in connection with coming into force of this Act).

(6) Further, subsection (4) does not apply—

(a) if any other Parliamentary procedure is expressly provided to apply in relation to the order or regulations, or

[F14 (b) if the order or regulations provide for any provision of the Income Tax Acts to come into force or have effect in accordance with the order or regulations,]

and is also subject to any other provision to the contrary.

Textual Amendments

F1 S. 1014(2)(ba) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 285(2) (with Sch. 9 paras. 1-9, 22)

F2 S. 1014(2)(fa) substituted (18.3.2010) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(2)(c), Sch. 8 para. 327 (with Sch. 9 paras. 1-9, 22)

F3 Word in s. 1014(2)(fa) substituted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 10(4)(b)

F4 S. 1014(2)(g)(iia) inserted (19.7.2007) by Finance Act 2007 (c. 11), Sch. 26 para. 12(14)(a)

F5 Word in s. 1014(2)(g)(iia) omitted (21.7.2008) by virtue of Finance Act 2008 (c. 9), Sch. 16 paras. 6(2), 11(4)

F6 S. 1014(2)(g)(iib) inserted (21.7.2008) by Finance Act 2008 (c. 9), Sch. 16 paras. 6(3), 11(4)

F7 Word in s. 1014(2)(g)(iib) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 285(3)(a), Sch. 10 Pt. 11 (with Sch. 9 paras. 1-9, 22)

F8 S. 1014(2)(g)(iic) inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 285(3)(b) (with Sch. 9 paras. 1-9, 22)

F9 Word in s. 1014(2)(g)(iii) substituted (19.7.2007) by Finance Act 2007 (c. 11), Sch. 26 para. 12(14)(b)

F10 S. 1014(5)(b)(ai) inserted (with effect for the tax year 2028-29 and subsequent tax years) by Finance Act 2023 (c. 1), s. 6(2)(5)

F11 Words in s. 1014(5)(b)(i) substituted (21.7.2008 with effect in accordance with Sch. 1 para. 65 of the amending Act) by Finance Act 2008 (c. 9), Sch. 1 para. 34

F12 S. 1014(5)(b)(iia) omitted (12.2.2019) by virtue of Finance Act 2019 (c. 1), s. 5(4)(a)

F13 S. 1014(5)(b)(iiia) substituted (with effect in accordance with Sch. 1 para. 14(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 1 para. 6(4)

F14 S. 1014(6)(b) substituted (26.3.2015) by Finance Act 2015 (c. 11), s. 125(2)

Modifications etc. (not altering text)

C1 S. 1014 excluded (27.7.2010) by Finance (No. 2) Act 2010 (c. 31), s. 5(3)

C2 S. 1014(4) excluded (21.7.2008) by Finance Act 2008 (c. 9), s. 31(4)

C3 S. 1014(4) excluded (21.7.2009) by Finance Act 2009 (c. 10), Sch. 22 para. 14(2)

C4 S. 1014(4) excluded (17.7.2014) by Finance Act 2014 (c. 26), s. 12(5)

C5 S. 1014(4) excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 37 para. 22(3)

C6 S. 1014(4) excluded (26.3.2015) by Finance Act 2015 (c. 11), s. 23(4)

C7 S. 1014(4) excluded (with effect in accordance with s. 16(4) of the amending Act) by Finance Act 2015 (c. 11), s. 16(6)

C8 S. 1014(4) excluded (26.3.2015) by Finance Act 2015 (c. 11), s. 20(5)

C9 S. 1014(4) excluded (26.3.2015) by Finance Act 2015 (c. 11), Sch. 6 para. 14(3)