Statute Law Repeals - Law Commission - Ministry of Justice

10.117 Schedule 3 to FA 1998 (and section 31) abolished advance corporation tax (ACT)
for UK-resident companies for qualifying distributions made on or after 6 April
1999. Schedule 3 originally comprised 48 paragraphs, all of which (bar paragraph
6) 45 are now spent because they deleted various provisions in ICTA 1988 and
other tax statutes. 46 With the exception of paragraph 6 they may now be
repealed.
10.118 Schedule 7 to FA 1998 (and section 46(3)) dealt with the computation of
Schedule D trade and professional profits. Schedule 7 paragraph 1 amended
section 375A(1)(b) of ICTA 1988 by removing reference to “gains” from the text.
Section 375A was later repealed by FA 1999, ss 38, 139 and Sch 4 para 10 and
Sch 20 Pt 3(7) for interest payments made (in the main) on or after 6 April 2000.
As a consequence, reference to section 375A(1)(b) can be omitted from
Schedule 7 paragraph 1.
10.119 Schedule 7 paragraph 1 also referred to section 770(2)(a)(iii), (b)(iii) of ICTA
1988. Section 770 as a whole was replaced by FA 1998, s 108(1),(5), which
substituted within the 1988 Act a new section 770A and Schedule 28AA for
accounting periods ending on or after 1 July 1999. The references to section 770
in Schedule 7 paragraph 1 are now superseded and can be removed.
10.120 Schedule 7 paragraph 2 amended FA 1988, s 73(2) and Sch 12 para 2(2) by
removing reference to “gains”. Section 73(2) was later repealed by CTA 2009, ss
1322, 1326, 1329 and Sch 1 paras 330, 334 and Sch 3 Pt 1 for 2009-10 onwards,
and reference to that section in Schedule 7 paragraph 2 was also repealed.
Schedule 12 paragraph 2 was repealed by FA 2002, s 141 and Sch 40 Pt 3(17).
On that basis, Schedule 7 paragraph 2 may now be repealed as a whole.
10.121 Schedule 7 paragraph 3 removed reference to “gains” from sections 67(2)(a),
76(1),(4)(a) and 112(1) in FA 1989, some of which provisions dealt with
employee share ownership trusts. Two of these sections (76 and 112) were later
repealed. 47 As a consequence reference to them should now be removed from
Schedule 7 paragraph 3.
10.122 Schedule 7 paragraph 8 applied similar amendments to section 42(8) of, and
Schedule 12 paragraphs 3(3)(c),4(2) (twice) to, F (No.2) A 1992. Subsequently
both section 42 and Schedule 12 were repealed. 48 On that basis Schedule 7
paragraph 8 is now spent and may be repealed.
10.123 Schedule 7 paragraph 12 made the like adjustments to FA 1997, Sch 12 para
8(4)(a), but Schedule 12 paragraph 8 was then repealed by the same Act, ss
38(2),(3), 165 and Sch 5 para 74 and Sch 27 Pt 3(4) for periods of account
beginning on 1 April 1998. Schedule 7 paragraph 12 can now be repealed as
spent.
45 Schedule 3 paragraph 6 amended TMA 1970, s 109(3A).
46 For more detailed discussion of these paragraphs, and their effects, see our published
consultation paper at paragraph 326.
47 Section 76 by Finance Act 2004 (c.12), s 326 and Sch 42 Pt 3, and section 112 by ITTOIA
2005, ss 882(1), 883, 884 and Sch 1 paras 406, 410 and Sch 3.
48 Section 42 by Finance Act 2006 (c.25), ss 46, 178 and Sch 26 Pt 3(4), and Schedule 12 by
TIOPA 2010, ss 371, 378, 381 and Sch 7 paras 63, 65 and Sch 10 Pt 12.
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