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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Finance Act 2015 (Paragraphs 10 to 12 of Schedule 6) Regulations 2015 No. 1836 URL: http://www.bailii.org/uk/legis/num_reg/2015/uksi_20151836_en_1.html |
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Statutory Instruments
Income Tax
Made
27th October 2015
Coming into force
30th November 2015
The Treasury, in exercise of the power conferred by paragraph 14 of Schedule 6 to the Finance Act 2015(1), make the following Regulations:
1. These Regulations may be cited as the Finance Act 2015 (Paragraphs 10 to 12 of Schedule 6) Regulations 2015 and come into force on 30th November 2015.
2. In respect of Schedule 6 to the Finance Act 2015-
(a)paragraph 10 has effect in relation to shares issued on or after 30th November 2015;
(b)paragraph 11 has effect in relation to relevant holdings(2) issued on or after 30th November 2015; and
(c)paragraph 12 has effect on 30th November 2015.
George Hollingbery
Mel Stride
Two of the Lords Commissioner of Her Majesty's Treasury
27th October 2015
(This note is not part of the Regulations)
The Regulations provide for 30th November 2015 as the date that paragraphs 10 to 12 of Schedule 6 to the Finance Act 2015 (c. 11) have effect.
Paragraph 10 amends sections 198A and 198B of the Income Tax Act 2007 (c. 3) ("ITA") such that various categories of entity cease to be entitled to income tax relief under the Enterprise Investment Scheme and the Seed Enterprise Investment Scheme in respect of certain energy generation activities.
Paragraph 11 amends sections 309A and 309B of ITA such that various categories of entity cease to be entitled to income tax relief under the Venture Capital Trusts scheme in respect of certain energy generation activities.
Paragraph 12 makes various consequential amendments.
A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy.
For the definition of "relevant holdings" see section 286 of the Income Tax Act 2007 (c.3).
