Part 1
Income tax and corporation tax
Chapter 1 Reliefs for businesses etc
Capital allowances for companies
1 Permanent full expensing etc for expenditure on plant or machinery
2 New regime for research and development carried out by companies
Films, television programmes, video games etc
3 Films, television programmes and video games produced by companies
4 Theatrical productions made by companies
5 Orchestral concerts produced by companies
6 Museum and gallery exhibitions produced by companies
7 Sections 3 to 6: administration of reliefs
8 Miscellaneous amendments relating to REITs
10 Increase in capital allowances limit for ship leasing
11 Extension of EIS relief and VCT relief to shares issued before 6 April 2035
12 Relief for payments of compensation by government etc to companies
13 Enterprise management incentives: time limits
14 Provision in connection with abolition of the lifetime allowance charge
15 MPs’ pension scheme etc: rectification of discrimination
Chapter 3 Other income tax measures
Calculation of trade profits etc
16 Provision relating to the cash basis
17 PAYE regulations: special types of payer or payee
18 Carer’s allowance supplement: correction of statutory reference
Part 2
Other taxes
19 Growth market exemption: qualifying UK multilateral trading facilities etc
20 Capital-raising arrangements etc
22 Ensuring consistency of Parts 3 and 4 of F(No.2)A 2023 with OECD rules etc
23 Rates of tobacco products duty
24 Rates of vehicle excise duty
25 Rates of air passenger duty
26 Rebate on heavy oil and certain bioblends used for heating
27 Vehicle excise duty exemption for foreign vehicles
28 Interpretation of VAT and excise law
31 Rate of plastic packaging tax
Part 3
Miscellaneous and final
32 Increase in maximum terms of imprisonment for tax offences
33 Disqualification of directors etc promoting tax avoidance schemes
34 Promoters of tax avoidance: failure to comply with stop notice etc
35 Construction industry scheme: gross payment status
36 Additional information to be contained in returns under TMA 1970 etc
37 Commencement of rules imposing penalties for failure to make returns etc
SCHEDULES
Schedule 1 Research and development
Schedule 2 Films, television programmes and video games
Schedule 3 Theatrical productions
Schedule 4 Orchestral concerts
Schedule 5 Museum and gallery exhibitions
Schedule 6 Administration of creative sector reliefs
Schedule 7 Real Estate Investment Trusts
Schedule 10 Calculation of trade profits etc
Schedule 8 amends Schedule 22 to FA 2000 to make provision to enable companies, and groups of companies, that manage qualifying ships to make a tonnage tax election (so that their profits for the purposes of corporation tax are calculated in accordance with the tonnage tax regime).