Finance Act 2014
Sections and provisions with full text and the judgments that cite each one.
Section 187 — On-course betting and excluded betting
On-course betting and excluded betting 187 1 A bet is an on-course bet for the purposes of this Part if it— a is made by a person present at a horse or dog race meeting or by a bookmaker, b is not…
Section 187A — Excess interest treated as a qualifying distribution
Excess interest treated as a qualifying distribution 187A 1 Subsection (2) applies if Conditions A to C in section 187 are met in circumstances where section 174A prevents a claim under section 174.…
Section 188 — Gaming
Gaming 188 1 In this Part— a “ gaming ” means playing a game of chance for a prize, and b “ game of chance ” has the meaning given by section 6(2) of the Gambling Act 2005. 2 For the purposes of…
Section 189 — Other definitions
Other definitions 189 In this Part— “ betting facilities ” means facilities for receiving or negotiating bets or conducting pool betting operations; “ bookmaker ” means a person who— carries on the…
Section 190 — Index
Index 190 The Table lists the places where some of the expressions used in this Part are defined or otherwise explained. bet section 183 bet at fixed odds section 185 bet made for community benefit…
Section 191 — Amounts not in sterling
Amounts not in sterling 191 1 If any amount of stake money, gaming payment, winnings or prize is in a currency or method of payment other than sterling, it is to be treated for the purposes of this…
Section 192 — Limited liability partnerships
Limited liability partnerships 192 1 This Part applies to limited liability partnerships as it applies to companies. 2 In its application to a limited liability partnership, references to a director…
Section 193 — Effect of imposition of duties
Effect of imposition of duties 193 The imposition by this Part of general betting duty, pool betting duty, or remote gaming duty does not make lawful anything which is unlawful apart from this Part.
Section 194 — Regulations
Regulations 194 1 Regulations under this Part— a may make provision which applies generally or only for specified cases or purposes, b may make different provision for different cases or purposes, c…
Section 195 — Notices
Notices 195 A notice published by the Commissioners under this Part may be revised or replaced by them.
Section 196 — Consequential amendments and repeals
Consequential amendments and repeals 196 Schedule 28 contains consequential amendments and repeals.
Section 197 — Transitional and saving provisions
Transitional and saving provisions 197 Schedule 29 contains transitional and saving provisions.
Section 198 — Commencement and effect
Commencement and effect 198 1 This Part (except sections 164(2), 173 and 196 and Schedule 28) comes into force on the day on which this Act is passed. 2 The following provisions come into force on 1…
Section 198B — Excluded activities: subsidised generation of heat and subsidised production of gas or fuel
Excluded activities: subsidised generation of heat and subsidised production of gas or fuel 198B 1 This section supplements section 192(1)(kb). 2 The generation of heat, or production of gas or fuel,…
Section 198J — Oil and gas: reinvestment after pre-trading disposal
Oil and gas: reinvestment after pre-trading disposal 198J 1 This section applies if a company which is an E&A company makes a disposal of, or of the company's interest in, relevant E&A assets and…
Section 198K — Provisional application of section 198J
Provisional application of section 198J 198K 1 This section applies where a company for a consideration disposes of, or of an interest in, any assets at a time when it is an E&A company and declares,…
Section 198L — Expenditure by member of same group
Expenditure by member of same group 198L 1 Section 198J applies where— a the disposal is by a company which, at the time of the disposal, is a member of a group of companies (within the meaning of…
Section 199 — Overview of Part 4
Overview of Part 4 199 In this Part— a sections 200 to 203 set out the main defined terms used in the Part, b Chapter 2 makes provision for follower notices and for penalties if account is not taken…
Section 200 — “Relevant tax”
“Relevant tax” 200 In this Part, “ relevant tax ” means— a income tax, b capital gains tax, c corporation tax, including any amount chargeable as if it were corporation tax or treated as if it were…
Section 201 — “Tax advantage” and “tax arrangements”
“Tax advantage” and “tax arrangements” 201 1 This section applies for the purposes of this Part. 2 “ Tax advantage ” includes— a relief or increased relief from tax, b repayment or increased…
Section 202 — “Tax enquiry” and “return”
“Tax enquiry” and “return” 202 1 This section applies for the purposes of this Part. 2 “ Tax enquiry ” means— a an enquiry under section 9A or 12AC of TMA 1970 (enquiries into self-assessment returns…
Section 202A — “Registered club”
“Registered club” 202A In this Chapter “ registered club ” has the meaning given by section 658(6) (clubs registered as community amateur sports clubs).
Section 202B — Restriction on relief for payments to community amateur sports clubs
Restriction on relief for payments to community amateur sports clubs 202B 1 Subsection (2) applies if— a one or more qualifying payments are made by a company to a registered club (“the club”) in an…
Section 202C — “Inflated member-related expenditure”
“Inflated member-related expenditure” 202C 1 This section applies for the purposes of section 202B. 2 “ Inflated member-related expenditure ” means— a employment expenditure incurred in respect of…
Section 203 — “Tax appeal”
“Tax appeal” 203 In this Part “ tax appeal ” means— a an appeal under section 31 of TMA 1970 (income tax: appeals against amendments of self-assessment, amendments made by closure notices under…
Section 204 — Circumstances in which a follower notice may be given
Circumstances in which a follower notice may be given 204 1 HMRC may give a notice (a “follower notice”) to a person (“P”) if Conditions A to D are met. 2 Condition A is that— a a tax enquiry is in…
Section 205 — “Judicial ruling” and circumstances in which a ruling is “relevant”
“Judicial ruling” and circumstances in which a ruling is “relevant” 205 1 This section applies for the purposes of this Chapter. 2 “ Judicial ruling ” means a ruling of a court or tribunal on one or…
Section 206 — Content of a follower notice
Content of a follower notice 206 A follower notice must— a identify the judicial ruling in respect of which Condition C in section 204 is met, b explain why HMRC considers that the ruling meets the…
Section 207 — Representations about a follower notice
Representations about a follower notice 207 1 Where a follower notice is given under section 204, P has 90 days beginning with the day that notice is given to send written representations to HMRC…
Section 208 — Penalty if corrective action not taken in response to follower notice
Penalty if corrective action not taken in response to follower notice 208 1 This section applies where a follower notice is given to P (and not withdrawn). 2 P is liable to pay a penalty if the…
Section 208A — Additional penalty for unreasonable tax appeal
Additional penalty for unreasonable tax appeal 208A 1 In the case of a follower notice given by virtue of section 204(2)(a) in relation to a tax enquiry into a return or claim made by P, this section…
Section 209 — Amount of a section 208 or 208A penalty
Amount of a section 208 or 208A penalty 209 1 The penalty under section 208 is 30% of the value of the denied advantage. 1A The penalty under section 208A is 20% of the value of the denied advantage.…
Section 210 — Reduction of a section 208 penalty for co-operation
Reduction of a section 208 penalty for co-operation 210 1 Where— a P is liable to pay a penalty under section 208 of the amount specified in section 209(1), b the penalty has not yet been assessed,…
Section 211 — Assessment of a section 208 penalty
Assessment of a section 208 penalty 211 1 Where a person is liable for a penalty under section 208, HMRC may assess the penalty. 2 Where HMRC assess the penalty, HMRC must— a notify the person who is…
Section 211A — Assessment of a section 208A penalty
Assessment of a section 208A penalty 211A 1 Where a person is liable for a penalty under section 208A, HMRC must— a assess the penalty, b notify the person who is liable for the penalty, and c state…
Section 212 — Aggregate penalties
Aggregate penalties 212 1 Subsection (2) applies where— a two or more penalties are incurred by the same person and fall to be determined by reference to an amount of tax to which that person is…
Section 213 — Alteration of assessment of a section 208 or 208A penalty
Alteration of assessment of a section 208 or 208A penalty 213 1 After notification of an assessment has been given to a person under section 211(2) or 211A(1) , the assessment may not be altered…
Section 214 — Appeal against a section 208 penalty
Appeal against a section 208 penalty 214 1 P may appeal against a decision of HMRC that a penalty is payable by P under section 208. 2 P may appeal against a decision of HMRC as to the amount of a…
Section 214A — Appeal against a section 208A penalty
Appeal against a section 208A penalty 214A 1 P may appeal against a decision of HMRC that a penalty is payable by P under section 208A. 2 P may appeal against a decision of HMRC as to the amount of a…
Section 215 — Follower notices: treatment of partners and partnerships
Follower notices: treatment of partners and partnerships 215 Schedule 31 makes provision about the application of this Chapter in relation to partners and partnerships.
Section 216 — Late appeal against final judicial ruling
Late appeal against final judicial ruling 216 1 This section applies where a final judicial ruling (“the original ruling”) is the subject of an appeal by reason of a court or tribunal granting leave…
Section 217 — Transitional provision
Transitional provision 217 1 In the case of judicial rulings made before the day on which this Act is passed, this Chapter has effect as if for section 204(6) there were substituted— 6 A follower…
Section 218 — Defined terms used in Chapter 2
Defined terms used in Chapter 2 218 For the purposes of this Chapter— “ arrangements ” has the meaning given by section 201(4); “ the asserted advantage ” has the meaning given by section 204(3); “…
Section 219 — Circumstances in which an accelerated payment notice may be given
Circumstances in which an accelerated payment notice may be given 219 1 HMRC may give a notice (an “accelerated payment notice”) to a person (“P”) if Conditions A to C are met. 2 Condition A is that—…
Section 220 — Content of notice given while a tax enquiry is in progress
Content of notice given while a tax enquiry is in progress 220 1 This section applies where an accelerated payment notice is given by virtue of section 219(2)(a) (notice given while a tax enquiry is…
Section 221 — Content of notice given pending an appeal
Content of notice given pending an appeal 221 1 This section applies where an accelerated payment notice is given by virtue of section 219(2)(b) (notice given pending an appeal). 2 The notice must— a…
Section 222 — Representations about a notice
Representations about a notice 222 1 This section applies where an accelerated payment notice has been given under section 219 (and not withdrawn). 2 P has 90 days beginning with the day that notice…
Section 223 — Effect of notice given while tax enquiry is in progress : accelerated payment
Effect of notice given while tax enquiry is in progress : accelerated payment 223 1 This section applies where— a an accelerated payment notice is given by virtue of section 219(2)(a) (notice given…
Section 224 — Restriction on powers to postpone tax payments pending initial appeal
Restriction on powers to postpone tax payments pending initial appeal 224 1 In section 55 of TMA 1970 (recovery of tax not postponed), after subsection (8A) insert— 8B Subsections (8C) and (8D) apply…
Section 225 — Protection of the revenue pending further appeals
Protection of the revenue pending further appeals 225 1 In section 56 of TMA 1970 (payment of tax where there is a further appeal), after subsection (3) insert— 4 Subsection (5) applies where— a an…