The Landfill Tax (Amendment) (No. 2) Regulations 2010

• Citation: S.I. 2010/2437
• Sections: 2

Section 1 Citation, commencement and interpretation

(1) These Regulations may be cited as the Landfill Tax (Amendment) (No. 2) Regulations 2010 and come into force on 1st November 2010.

(2) In these Regulations “the Principal Regulations ” means the Landfill Tax Regulations 1996 .

Section 2 Amendment of the Principal Regulations

In regulation 30(1) of the Principal Regulations (interpretation and general provisions) for ““income” includes interest” substitute—

“income” includes interest; or

(a) the proportion of any proceeds attributable to the initial acquisition and disposal of an asset (or part of an asset) purchased with a qualifying contribution (or part of a qualifying contribution), or

(b) the proportion of any proceeds attributable to any subsequent acquisition and disposal of an asset (or part of an asset) purchased with the proceeds (or part of the proceeds) of—

(i) the initial acquisition and disposal representing the original qualifying contributions, or

(ii) any subsequent acquisition and disposal representing the original qualifying contributions,

through any number of transactions.