Finance Bill 2001 Index

Click on the links below to access the Explanatory Notes. This information will also be placed in the Vote Office and the Libraries of both Houses of Parliament. Members of the public will also be able to obtain hard copies of the Explanatory Notes from the Treasury Public Enquiry Unit 020 7270 4558.

Clauses 1-20

Clauses 21-40

Clauses 41-60

Clauses 61-80

Clauses 81-100

Clauses 101-105 and Supplementary Clauses 106-108

Government Amendments and Government New Clauses

Click on the link below to view the full text of the Finance Bill on the Parliamentary website.

External links

• Text of Finance Bill

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Clauses 1-20

Internal links

• Clause 1: Hydrocarbon Oil (Rates of Duty)
• Clause 2: Hydrocarbon Oil (Rebate on Unleaded Petrol)
• Clause 3: Hydrocarbon Oil (Fuel Testing Pilot Projects)
• Clause 4: Tobacco Products Duty
• Clause 5: Alchoholic Liquor Duties
• Clause 6: General Betting Duty
• Clause 7: Rates of Gaming Duty
• Clause 8: Vehicle Excise Duty (General Rate)
• Clause 9: Rates of Duty for Goods Vehicles
• Clause 10: Rates of Duty for Vehicles used for Exceptional Loads
• Clause 11: Rates of Duty for Recovery Vehicles
• Clause 12: Rates of Vehicle Excise Duty for Mobile Pumping Vehicles
• Clause 13: Exemption from Vehicle Excise Duty for Special Concessionary and Electric Vehicles
• Clause 14: Surrender of Vehicle Licences
• Clause 15: Excise Duty (Payments in case of error or delay by commissions)
• Clause 16: Charge to Aggregates Levy
• Clause 17: Meaning of Aggregate and Taxable Aggregate
• Clause 18: Exempt Processes
• Clause 19: Commercial Exploitation
• Clause 20: Originating Sites

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Clauses 21-40

Internal links

• Clause 21: Operations of Sites
• Clause 22: Responsibility for Exploitation of Aggregate
• Clause 23: Weight of Aggregate
• Clause 24: The Register
• Clause 25: Returns and Payments of Levy
• Clause 26: Security for Levy
• Clause 27: Recovery and Interest
• Clause 28: Evasion, Misdeclaration and Neglect
• Clause 29: Information and Evidence
• Clause 30: Credit for Aggregates Levy
• Clause 31: Repayments of Overpaid Levy
• Clause 32: Supplemental Provisions about Repayments, etc.
• Clause 33: Appointment of Tax Representatives
• Clause 34: Effect of Appointment of Tax Representatives
• Clause 35: Groups of Companies, etc.
• Clause 36: Partnerships and other Unincorporated Bodies
• Clause 37: Insolvency, etc.
• Clause 38: Death and Incapacity
• Clause 39: Transfer of a Business as a going Concern
• Clause 40: Review of Commissioners´ Decisions

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Clauses 41-60

Internal links

• Clause 41: Appeals against Reviewed Decisions
• Clause 42: Determinations on Appeal
• Clause 43: Adjustments of Contracts
• Clause 44: Destination of Receipts
• Clause 45: Regulations and Orders
• Clause 46: Civil Penalties
• Clause 47: Service of Notices
• Clause 48: Interpretation of Chapter
• Clause 49: Minor and Consequential Amendments
• Clause 50: Charge and Rates of Income Tax for 2001-02
• Clause 51: Starting Rate Limit for 2001-02
• Clause 52: Amount of Children´s Tax Credit in 2001-02
• Clause 53 and Schedule 11: Children´s tax Credit: Baby Rate
• Clause 54: Corporation Tax-Charge and Main Rate for Financial Year 2002
• Clause 55: Corporation Tax-Small Companies´ Rate and Fraction for Financial Year 2001
• Clause 56: Corporation Tax-Starting Rate and Fraction for Financial Year 2001
• Clause 57 and Schedule 12: Mileage Allowances: Exemptions and Relief
• Clause 58: Mileage Allowance: Nil Liability Notices
• Clause 59: Employees Vehicles: Withdrawal of Capital Allowances
• Clause 60: Exemption for Works Bus Services: Extension to Minibuses

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Clauses 61-80

Internal links

• Clause 61: Employee Share Ownership Plans: Amendments
• Clause 62 and Schedule 14: Enterprise Management Incentives: Amendments
• Clause 63 and Schedule 15: Enterprise Investment Scheme: Amendments
• Clause 64 and Schedule 16: Venture Capital
• Clause 65 and Schedule 17: Energy-Saving Plant and Machinery
• Clause 66 and Schedule 18: Fixtures Provided in Connection with Energy Management Services
• Clause 67 and Schedule 19: Conversion of Parts of Business Premises into Flats
• Clause 68 and Schedule 20: Decommissioning of Offshore Oil Infrastructure
• Clause 69 and Schedule 21: Capital Allowances: Minor Amendments
• Clause 70 and Schedule 22, 23: Relief for Expenditure on Remediation of Contaminated Land
• Clause 71: Creative Artists: Relief for Fluctuating Profits
• Clause 72: Expenditure on Film Production etc
• Clause 73: Deductions for Business Gifts: Yearly Limit
• Clause 74: Payments to Employers out of Pension Funds
• Clause 75: Notional Transfers within a Group
• Clause 76 and Schedule 25: Capital Gains Tax: Taper Relief: Business Assets
• Clause 77: Degrouping Charge: Transitional Relief
• Clause 78: Attribution of Gains of Non-Resident Companies
• Clause 79 and Schedule 26: Double Taxation Relief
• Clause 80: Controlled Foreign Companies (CFCs)

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Clauses 81-100

Internal links

• Clause 81 and Schedule 27: Life Policies, Life Annuity contracts and Capital Redemption Policies
• Clause 82: Stock Lending Anti-Avoidance
• Clause 83: Deduction of Tax: Payments between Companies
• Clause 84: Profits for Purposes of Small Companies´ Relief
• Clause 85: Life Insurance Companies and Friendly Societies: Provisional Repayments
• Clause 86 and Schedule 28: Amendments to the Machinery of Self-Assesment
• Clause 87: Recovery Proceedings: Minor Amendments
• Clause 88: Repayment Supplements: Claim for Relief Involving two or more years
• Clause 89: Power to Revise Excessive Penalties
• Clause 90 and Schedule 29: Exemption for Property in Disadvantaged Areas:
• Clause 91: SDRT: Unit Trust Schemes and Individual Pension Accounts
• Clause 92: SDRT: Open-Ended Investment Companies and Individual Pension Accounts
• Clause 93: Exemptions in Relation to Employee Shares Ownership Plans
• Clause 94: VAT: Children´s Car Seats
• Clause 95: VAT: Residential Conversions and Renovations
• Clause 96: VAT : Refund Scheme for National Museums and Galleries
• Clause 97: Simplification of the Legislation on VAT Reduced Rates
• Clause 98: Appointment of VAT Representatives
• Clause 99 and Schedule 31: PRT: Determination of Undeliverable Field Losses
• Clause 100: PRT: Allowable Decommissioning where Infrastructure has been Shared

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Clauses 101-105 and Supplementary Clauses 106-108

Internal links

• Clause 101: PRT: Allowance of Decommissioning Expenditure in Exempt Gas Fields
• Clause 102: Rate of Landfill Tax
• Clause 103: Climate Change Levy
• Clause 104: Transfers within Group etc
• Clause 105: Miscellaneous and Supplementary Provisions
• Supplementary Clauses 106-108

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Government Amendments and Government New Clauses

Internal links

• Amendment 30: Clause 57/Sch 12. Page 143, line 43
• Amendment 31: Clause 68 and Schedule 20. Page 194, line 8.
• Amendment to Clause 83: Clause 83, Page 56, line 20
• New Clause 16: Limited Liability Partnerships: General
• New Clause 17: Limited Liability Partnerships: Investment in LLPs and Property Investment LLPs
• New Clause 18: Interest on Unpaid Tax, etc: Foot-and-mouth Disease

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Legislation Index