The Tax Law Rewrite Acts (Amendment) Order 2013

• Citation: S.I. 2013/463
• Sections: 12

Section 1 Citation, commencement and effect

(1) This Order may be cited as the Tax Law Rewrite Acts (Amendment) Order 2013.

(2) This Order comes into force on 1st April 2013.

(3) The amendments made by articles 11 and 12 have effect for accounting periods beginning on or after that date.

Section 2 Inheritance Tax Act 1984

(1) In the definition of “local authority” in section 272 of the Inheritance Tax Act 1984 (general interpretation), for “section 842A of the Taxes Act 1988 ” substitute “section 1130 of the Corporation Tax Act 2010”.

(2) In consequence of the amendment made by paragraph (1), omit paragraph 4 of Schedule 18 to the Finance Act 1990 .

Section 3 Local Government Finance Act 1988

In section 45A(3)(a) of the Local Government Finance Act 1988 (unoccupied hereditaments: zero-rating), for “Schedule 18 to the Finance Act 2002 ” substitute “Chapter 9 of Part 13 of the Corporation Tax Act 2010”.

Section 4 Taxation of the Chargeable Gains Act 1992

The Taxation of Chargeable Gains Act 1992 is amended as follows.

Section 5 Taxation of the Chargeable Gains Act 1992

In section 140C(5) (transfer or division of non-UK business) for “section 815A of the Taxes Act” substitute “section 122 of TIOPA 2010 (tax treated as chargeable in respect of gains on transfer of non-UK business)”.

Section 6 Taxation of the Chargeable Gains Act 1992

In section 140F(4) (merger: assets outside UK tax charge) for “section 815A of the Taxes Act (transfer of a non-UK trade)” substitute “section 122 of TIOPA 2010 (tax treated as chargeable in respect of gains on transfer of non-UK business)”.

Section 7 Finance Act 1994

(1) Section 227B of the Finance Act 1994 (transfer of underwriting business without change of ownership) is amended as follows.

(2) In subsection (2)—

(a) for “Section 343 of the Taxes Act 1988 (company reconstructions without a change of ownership)” substitute “Chapter 1 of Part 22 of the Corporation Tax Act 2010 (transfers of trade without a change of ownership)”,

(b) in paragraph (a), for “the trade mentioned in that section” substitute “the transferred trade referred to in that Chapter ”, and

(c) in paragraph (c), for “subsections (8) to (10) and (12)” substitute “sections 951 and 952”.

Section 8 Income Tax (Trading and Other Income) Act 2005

In section 415(5) of the Income Tax (Trading and Other Income) Act 2005 (charge to tax under Chapter 6), for “as if they were in section 419 of ICTA ” substitute “as they have for the purposes of section 455 of CTA 2010 ”.

Section 9 Corporation Tax Act 2010

The Corporation Tax Act 2010 is amended as follows.

Section 10 Corporation Tax Act 2010

In section 144(2) (condition 1: claimant company owned by consortium), for “total profits” (in both places) substitute “available total profits” .

Section 11 Corporation Tax Act 2010

In section 148 (conditions 1 and 2: surrendering company in group of companies), for subsections (3) and (4) substitute—

(3) In the case of the claim (“the current claim”) the surrendering company’s surrenderable amounts for the surrender period are to be treated as reduced (but not below nil) by the group’s potential relief .

Section 12 Corporation Tax Act 2010

In section 149 (conditions 1 and 3: claimant company in group of companies), for subsections (3) and (4) substitute—

(3) In the case of the claim (“the current claim”) the claimant company’s available total profits of the claim period are to be treated as reduced (but not below nil) by the group’s potential relief .