Finance (No. 2) Act 1983
1983 CHAPTER 49
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.
[26 July 1983]
Most Gracious Sovereign,We, Your Majesty’s most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards raising the necessary supplies to defray Your Majesty’s public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
Part I Income Tax, Corporation Tax and Capital Gains Tax
1—5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8—13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part III Miscellaneous and Supplementary
15 Relief from stamp duty for local constituency associations of political parties on reorganisation of constituencies.
(1) In a case falling within paragraph (a) or paragraph (b) of subsection (4) of section 7 above, section 57 of the Stamp Act 1891 shall not apply in relation to a conveyance or transfer by which the disposal or, in the case of paragraph ( b ), either of the disposals referred to in that paragraph is effected.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule 1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 16(4).
Schedule 2 Repeals
Part I Income Tax, Corporation Tax and Capital Gains Tax
| Chapter | Short title | Extent of repeal |
|---|---|---|
| 1983 c. 28. | The Finance Act 1983. | In section 10, in subsection (1), the words following “ 30 per cent.” and subsections (2) and (3). |
| Section 16. | ||
| In Schedule 5, in paragraph 17(1), paragraph (c) and the word “ and” immediately preceding it and, in paragraph 18(1), the words “ within the next four months”. |
Part II Capital Transfer Tax
| Chapter | Short Title | Extent of Repeal |
|---|---|---|
| 1925 c. 23. | The Administration of Estates Act 1925. | In the First Schedule, paragraph 8(b). |
| 1955 c. 24 (N.I.). | The Administration of Estates Act (Northern Ireland) 1955. | In the First Schedule, paragraph 8(b). |
| 1975 c. 7. | The Finance Act 1975. | In section 26(3), the words “ 10(1)(b) or”, “ given to a charity or property” and “ charity or, as the case may be, the”. |
| In section 45, in subsection (1), paragraph (c) and the word “ or” immediately preceding it, and subsections (2A) and (3). | ||
| In Schedule 4, in paragraphs 12(3) and 19(2), the words “ a charity or only” . | ||
| In Schedule 6, in paragraph 10(1), paragraph (b) and the word “ and” immediately preceding it. | ||
| 1976 c. 40. | The Finance Act 1976. | In Schedule 10, paragraph 2(1A)(b). |
| 1977 c. 36. | The Finance Act 1977. | Section 49. |
| 1982 c. 39. | The Finance Act 1982. | Section 92(2) |
1 The repeals in the Administration of Estates Act 1925 and the Administration of Estates Act (Northern Ireland) 1955 have effect in relation to deaths on or after the day on which this Act is passed.
2 The repeals of —
(a) subsections (1)(c), (2A) and (3) of section 45 of the Finance Act 1975,
(b) paragraph 2(1A)(b) of Schedule 10 to the Finance Act 1976, and
(c) section 49 of the Finance Act 1977,
have effect in relation to transfers of value made, and other events occurring, on or after 15th March 1983.
3 The remaining repeals have effect in relation to transfers of value made on or after 15th March 1983.