Statutory Instrument 2002 No. 2931

The Income and Corporation Taxes Act 1988, Section 349B(3) Order 2002

(The document as of February, 2008)

-- Back --

STATUTORY INSTRUMENTS

2002 No. 2931

Taxes

The Income and Corporation Taxes Act 1988, Section 349B(3) Order 2002

	Made	27th November 2002
	Laid before the House of Commons	27th November 2002
	Coming into force	1st December 2002

The Treasury, in exercise of the powers conferred upon them by section 349B(8) of the Income and Corporation Taxes Act 1988 ("the Taxes Act")[1] hereby make the following Order:

1. This Order may be cited as the Income and Corporation Taxes Act 1988, Section 349B(3) Order 2002, and shall come into force on 1st December 2002.

2. In section 349B(3) of the Taxes Act after "made to" insert ", or to the nominee of".

Nick Ainger

Jim Fitzpatrick
Two of the Lords Commissioners of Her Majesty's Treasury

27th November 2002

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the provisions of section 349B(3) of the Income and Corporation Taxes Act 1988 (c. 1). Section 349A provides that a company or local authority may make certain payments gross (that is, without deduction of tax) if it reasonably believes one of the conditions in section 349B to be satisfied. The effect of the Order is to widen the condition in section 349B(3), to cover payments to a nominee of certain U.K. tax-exempt bodies.

Notes:

[1] 1988 c. 1; section 349B was inserted by section 85 of the Finance Act 2001 (c. 9) and amended by section 94 of, and Part 3(14) of Schedule 40 to, the Finance Act 2002 (c. 23).back

ISBN 0119441117

-- Back --

Stat