Finance Act 1992

• Citation: 1992 c. 20
• Sections: 9

Section 1 Spirits, beer, wine, made-wine and cider.

(1) In section 5 of the Alcoholic Liquor Duties Act 1979 (spirits) for “£18.96” there shall be substituted “ £19.81 ” .

(2) In section 36 of that Act (beer) as that section has effect apart from section 7(1) of the Finance Act 1991 for “£1.06” there shall be substituted “ £1.108 ” .

(3) For the Table of rates of duty in Schedule 1 to that Act (wine and made-wine) there shall be substituted the Table in the Schedule to this Act.

(4) In section 62(1) of that Act (cider) for “£20.40” there shall be substituted “ £21.32 ” .

(5) This section shall be deemed to have come into force at 6 o’clock in the evening of 10th March 1992.

Section 2 Tobacco products.

(1) For the Table in Schedule 1 to the Tobacco Products Duty Act 1979 there shall be substituted—

TABLE

(2) This section shall be deemed to have come into force at 6 o’clock in the evening of 10th March 1992.

Section 3 Hydrocarbon oil.

(1) In section 6(1) of the Hydrocarbon Oil Duties Act 1979 for “£0.2585” (duty on light oil) and “£0.2187” (duty on heavy oil) there shall be substituted “ £0.2779 ” and “ £0.2285 ” respectively.

(2) In section 11(1) of that Act (rebate on heavy oil) for “£0.0091” (fuel oil) and “£0.0129” (gas oil) there shall be substituted “ £0.0095 ” and “ £0.0135 ” respectively.

(3) In section 13A(1) of that Act (rebate on unleaded petrol) for “£0.0344” there shall be substituted “ £0.0437 ” .

(4) In section 14(1) of that Act (rebate on light oil for use as furnace fuel) for “£0.0091” there shall be substituted “ £0.0095 ” .

(5) This section shall be deemed to have come into force at 6 o’clock in the evening of 10th March 1992.

Section 4 Vehicles excise duty.

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Section 5 General betting duty.

(1) In section 1(2) of the Betting and Gaming Duties Act 1981 (rate of general betting duty) for “8 per cent.” there shall be substituted “ 7.75 per cent. ”

(2) This section shall apply in relation to bets made on or after 1st April 1992.

Section 8 Reduction of rates.

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Section 9 Lower rate.

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Section 10 Charge etc. for 1992-93.

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Section 11 Short title and interpretation.

(1) This Act may be cited as the Finance Act 1992.

(2) In this Act “ the Taxes Act 1988 ” means the Income and Corporation Taxes Act 1988.