Legislation – Finance Act 2022
PART 1
Income tax, corporation tax and capital gains tax
1 Income tax charge for tax year 2022-23
2 Main rates of income tax for tax year 2022-23
3 Default and savings rates of income tax for tax year 2022-23
4 Increase in rates of tax on dividend income
5 Freezing starting rate limit for savings for tax year 2022-23
6 Rate of surcharge and surcharge allowance
8 Profits of property businesses: late accounting date rules
9 Liability of scheme administrator for annual allowance charge
10 Increase of normal minimum pension age
11 Public service pension schemes: rectification of unlawful discrimination
12 Extension of temporary increase in annual investment allowance
13 Structures and buildings allowances: allowance statements
14 Qualifying asset holding companies
15 Real Estate Investment Trusts
16 Film tax relief: films produced to be television programmes
17 Temporary increase in theatre tax credit
18 Theatrical productions tax relief
19 Temporary increase in orchestra tax credit
21 Temporary increase in museums and galleries exhibition tax credit
22 Museums and galleries exhibition tax relief
23 Returns for disposals of UK land etc
26 Amendments of section 259GB of TIOPA 2010
27 Application of section 124 of TIOPA 2010 in relation to diverted profits tax
28 Diverted profits tax: closure notices etc
29 Insurance contracts: change in accounting standards
30 Deductions allowance in connection with onerous or impaired leases
31 Provision in connection with the Dormant Assets Act 2022
PART 2
Residential property developer tax
34 Meaning of “residential property developer”
35 Meaning of “residential property development activities”
36 Residential property development activities: “interest in land”
37 Residential property development activities: “residential property”
38 Meaning of “residential property developer profits or losses”
39 Adjusted trading profits and losses
40 Attributable joint venture profits and losses
42 Restrictions on RPDT reliefs
44 Allowance: joint venture companies
45 Application of corporation tax provisions and management of RPDT
46 Requirement to provide information about payments
47 Non-profit housing companies: exit charge
52 Anti-forestalling: accelerated profits
PART 3
Economic crime (anti-money laundering) levy
53 Economic crime (anti-money laundering) levy
58 Assessment, payment, collection and recovery
59 Payments into Consolidated Fund
60 Application to partnerships
63 Power to make consequential provision
PART 4
Public interest business protection tax
67 Public interest business protection tax
PART 5
Other taxes
68 Securitisation companies and qualifying transformer vehicles
69 Interim operation of margin schemes for used cars etc: Northern Ireland
70 Margin schemes and removal or export of goods: VAT-related payments
71 Margin schemes and removal or export of goods: zero-rating
72 Relief on the importation of dental prostheses
73 Identifying where the risk is situated
74 Transitioned trade remedies: decisions by Secretary of State
75 Reference documents: amount of import duty
76 Restriction of use of rebated diesel and biofuels
77 Rates of tobacco products duty
78 Rates for light passenger or light goods vehicles, motorcycles etc
79 Vehicle excise duty: exemption for certain cabotage operations
80 HGV road user levy: extension of suspension
81 Amounts of gross gaming yield charged to gaming duty
PART 6
Miscellaneous and final
85 Winding-up petitions by an officer of Revenue and Customs
86 Publication by HMRC of information about tax avoidance schemes
87 Freezing orders: England and Wales
88 Warrants for diligence on the dependence: Scotland
89 Freezing injunctions: Northern Ireland
90 Sections 87, 88 and 89: interpretation etc
91 Penalties for facilitating avoidance schemes involving non-resident promoters
92 Electronic sales suppression penalties
93 Tobacco products: tracing and security
94 Treatment of goods in free zones
95 Freeport tax site reliefs: provision about regulations
96 Large businesses: notification of uncertain tax treatment
97 Discovery assessments for unassessed income tax or capital gains tax
98 Notification of liability to income tax and capital gains tax
99 Calculation of income tax liability for certain charges relating to pensions
100 Power to make temporary modifications of taxation of employment income
101 Vehicle CO emissions certificates
102 Increase in membership of the Office of Tax Simplification
SCHEDULES
SCHEDULE 1 Abolition of basis periods
SCHEDULE 2 Qualifying asset holding companies
SCHEDULE 3 Real Estate Investment Trusts
SCHEDULE 4 Cross-border group relief
SCHEDULE 5 Insurance contracts: change in accounting standards
SCHEDULE 9 Miscellaneous provision
SCHEDULE 10 Public interest business protection tax
SCHEDULE 11 Restriction of use of rebated diesel and biofuels
SCHEDULE 12 Plastic packaging tax
SCHEDULE 13 Penalties for facilitating avoidance schemes involving non-resident promoters
SCHEDULE 14 Electronic sales suppression
SCHEDULE 15 Treatment of goods in free zones
SCHEDULE 16 Freeport tax site reliefs: provision about regulations
SCHEDULE 17 Large businesses: notification of uncertain tax treatment
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2022, Section 49.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
PART 2Residential property developer tax
Miscellaneous
49Miscellaneous provision
Schedule 9 makes miscellaneous provision in connection with RPDT.