Finance Act 2005

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SCHEDULE 5

Amendment of Provisions Consequential on Section 145

PART 1

Amendments of the Taxes Consolidation Act 1997 consequential to the provisions of section 145(1)

Provision amended	Words to be replaced	Words to be inserted
(1)	(2)	(3)
section 128B(9)(c)	“Subsections (3) and (4) of section 1080”	“Subsections (3) to (5) of section 1080”
section 128B(9)(d)	“subsection (1)(b)”	“subsection (2)(b)”
section 172K(6)(c)	“Subsections (2) to (4) of section 1080”	“Subsections (3) to (5) of section 1080”
section 172K(6)(d)	“subsection (1)(b)”	“subsection (2)(b)”
section 240(3)	“Subsections (2) to (4) of section 1080”	“Subsection (3) to (5) of section 1080”
section 240(4)	“subsection (1)(b)”	“subsection (2)(b)”
section 258(9)(c)	“Subsections (2) to (4) of section 1080”	“Subsections (3) to (5) of section 1080”
section 258(9)(d)	“subsection (1)(b)”	“subsection (2)(b)”
section 503(8)	“income tax charged by an assessment”	“income tax”
section 591(11)(c)	“R is the rate per cent specified in section 1080(1)”	“R is 0.083”
section 730G(7)(c)	“Subsections (2) to (4) of section 1080”	“Subsections (3) to (5) of section 1080”
section 730G(7)(d)	“subsection (1)(b)”	“subsection (2)(b)”
section 739F(7)(c)	“Subsections (2) to (4) of section 1080”	“Subsections (3) to (5) of section 1080”
section 739F(7)(d)	“subsection (1)(b)”	“subsection (2)(b)”
section 784E(6)(c)	“Subsections (2) to (4) of section 1080”	“Subsections (3) to (5) of section 1080”
section 784E(6)(d)	“subsection (1)(b)”	“subsection (2)(b)”
section 848M(6)(c)	“Subsections (2) to (4) of section 1080”	“Subsections (3) to (5) of section 1080”
section 848M(6)(d)	“subsection (1)(b)”	“subsection (2)(b)”
section 1082(3)	“section 1080(1)”	“section 1080(2)”
section 1082(4)	“Subsections (2) to (4) of section 1080”	“Subsections (3) to (5) of section 1080”
section 1082(5)	“section 1080(1)”	“section 1080(2)”
paragraph 1(7)(c) of Schedule 18	“Subsections (2) to (4) of section 1080”	“Subsections (3) to (5) of section 1080”
paragraph 1(7)(d) of Schedule 18	“subsection (1)(b)”	“subsection (2)(b)”

PART 2

Amendments of the Stamp Duties Consolidation Act 1999 consequential on the provisions of section 145(3)

Provision amended	Words to be replaced	Words to be inserted
(1)	(2)	(3)
section 5(4)	“interest on the duty (which shall be recoverable in the same manner as if it were part of the duty) at the rate of 0.0322 per cent for each day or part of a day”	“interest on the duty (which shall be recoverable in the same manner as if it were part of the duty), calculated in accordance with section 159D,”
section 14(1)	“interest on such duty, at the rate of 0.0322 per cent for each day or part of a day”	“interest on such duty, calculated in accordance with section 159D,”
sections 75(3), 87(3) and 87A(4)(a)	“interest on that sum at the rate of 0.0322 per cent for each day or part of a day”	“interest on that sum, calculated in accordance with section 159D,”
sections 79(7) and 80(8)	“interest on the duty, by means of penalty, at the rate of 0.0322 per cent for each day or part of a day”	“interest on the duty, by means of penalty, calculated in accordance with section 159D,”
sections 81(7)(aa) and 81A(11)(aa)	“interest shall be payable on a penalty incurred under paragraph (a) at a rate of 0.0322 per cent for each day or part of a day”	“interest shall be payable on a penalty incurred under paragraph (a), calculated in accordance with section 159D,”
sections 81(7)(b) and 81A(11)(b)	“interest on that amount as may so become payable charged at a rate of 0.0322 per cent for each day or part of a day”	“interest charged on that amount as may so become payable, calculated in accordance with section 159D,”
sections 91(2)(c)(i), 91A(6)(a), 92(2)(a), 92(2)(a) and 92B(4)(a)	“interest on that amount charged at a rate of 0.0322 per cent for each day or part of a day”	“interest charged on that amount, calculated in accordance with section 159D,”
section 108A(4)	“interest on the penalty at a rate of 0.0322 per cent per day or part of a day”	“interest on the penalty, calculated in accordance with section 159D,”
section 117(3)	“interest shall be payable at the rate of 0.0322 per cent for each day or part of a day for which duty so remains unpaid”	“interest shall be payable, calculated in accordance with section 159D, until the day on which the duty is paid”
section 117(4)	“interest on the additional duty payable under subsection (2)(b)(i) shall be charged at the rate of 0.0322 per cent for each day or part of a day”	“interest shall be chargeable on the additional duty payable under subsection (2(b)(i) and shall be calculated in accordance with section 159D,”
sections 123(7), 123A(7), 124(5)(b) and 125(6)	“interest on the duty at the rate of 0.0322 per cent for each day or part of a day”	“interest on the duty, calculated in accordance with section 159D,”
section 126A(10)	“interest on the stamp duty at the rate of 0.0322 per cent per day or part of a day”	“interest on the stamp duty, calculated in accordance with section 159D”

Finance Act 2005 Permanent Page URL

Finance Act 2005

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