The Tax Law Rewrite project's fifth Bill, the Corporation Tax Bill, was introduced into Parliament on 4 December and has been published today. Please use the link below to access a copy of the Bill with origins. A copy of the Bill without origins and explanatory notes are available on the HMRC website. The Bill is expected to have effect for Corporation Tax accounting periods ending after 31 March 2009. It is the first of two Bills that will rewrite Corporation Tax and contains the charge to Corporation Tax and the provisions used by companies in computing their income. The second Corporation Tax Bill is expected to follow in a year's time.
We have published a response document which contains a summary of the comments received on papers CC/SC (08) 25, 26 and 27 (78K). The document also shows how we have dealt with the comments received.
We have published a response document (PDF 265K) which contains a summary of the comments received on the draft Bill. The document also shows how we have dealt with the comments received.
We have published, for public consultation draft clauses under Paper CC/SC (08) 27 (PDF 46K) on Loan relationships, derivative contracts and intangible fixed assets: provisions affected by the European Mergers directive. Comments on the draft clauses are invited by 19 September 2008. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published, for public consultation draft clauses under Paper CC/SC (08) 26 (PDF 30K) on Intellectual property: know-how and patents. Comments on the draft clauses are invited by 19 September 2008. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published, for public consultation draft clauses under Paper CC/SC (08) 25 (PDF 29K) on Relationships treated as loan relationships: OEICs, unit trusts and offshore funds. Comments on the draft clauses are invited by 19 September 2008. Please select the relevant link below for the draft clauses and the explanatory notes.
The Tax Law Rewrite project has published the first draft Corporation Tax Bill (Bill 5) for a final round of public consultation. The consultation period ended on 23 May 2008.
We have published a response document (PDF 138K) which contains a summary of the comments received on the draft clauses published with Paper CC/SC (07) 21. The document also shows how we have dealt with the comments received.
We have published a Response Document (PDF 168K) which contains a summary of the comments received on the draft clauses published with Papers CC/SC (07) 15, 16, 17 and 18. The document also shows how we have dealt with the comments received.
We have published, for public consultation draft clauses under Paper CC/SC (07) 33 on Film production and sound recordings (PDF 24K). Comments on the draft clauses are invited in time for publication of the draft Bill in February 2008. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published, for public consultation draft clauses under Paper CC/SC (07) 32 on Intangible Fixed Assets (PDF 26K). Comments on the draft clauses are invited in time for publication of the draft Bill in February 2008. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published a Response Document (PDF 207K) which contains a summary of the comments received on the draft clauses published with Papers CC/SC (07) 02, 03, 04, 05,06 and 07. The document also shows how we have dealt with the comments received.
We have published, for public consultation draft clauses on Paper CC/SC (07) 21 on Derivative contracts (PDF 81K). Comments on the draft clauses are invited by 19 October 2007. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published, for public consultation draft clauses on Paper CC/SC (07) 15 on Currency (PDF 26K). Comments on the draft clauses are invited by 3 August 2007. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published, for public consultation draft clauses on Paper CC/SC (07) 16 on relief for employee share acquisitions (PDF 30K). Comments on the draft clauses are invited by 3 August 2007. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published, for public consultation draft clauses on Paper CC/SC (07) 17 on unauthorised unit trusts (PDF 27K). Comments on the draft clauses are invited by 3 August 2007. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published, for public consultation draft clauses on Paper CC/SC (07) 18 on loan relationships (PDF 29K). Comments on the draft clauses are invited by 3 August 2007. Please select the relevant link below for the draft clauses and the explanatory notes.
We have published a Response Document (PDF 132K) which contains a summary of the comments received on the draft clauses published with Paper CC/SC (06) 06 and Paper CC/SC (06) 07. The document also shows how we have dealt with the comments received.
We have published a document with three tables (PDF 276K), showing how the Bill 5 clauses correspond to the ITTOIA sections.
The Consultative Committee met on 11 July and agreed that the closing date for comments on the following consultation papers would be 30 November:
We have published, for public consultation, Paper CC/SC (06) 07 on trading and property income and partnerships (PDF 99K). Comments are invited on the draft clauses. The deadline for comments will be announced after the Consultative Committee meeting on 11 July. Please click on the relevant link below for the draft clauses and explanatory notes.
We have published, for public consultation, Paper CC/SC (06) 06 (PDF 76K) covering the first tranche of draft clauses to be included in Bill 5. The deadline for comments will be discussed and agreed at the meeting of the Consultative Committee on 11 July. We will announce the date on this page after the meeting.
Please select the relevant link below for the draft clauses and explanatory notes on the following subjects:
We have published, for public consultation, Paper CC/SC (06) 20 (PDF 30K), which presents updated draft clauses on the Accrued Income Scheme. These clauses will be added to the Income Tax Bill (which was introduced into Parliament on 7 December) by tabling amendments at the Joint Committee stage. Draft clauses on the Accrued Income Scheme were first published in October 1999 and subsequently included in the draft Income Tax (Trading and Other Income) Bill which was published in March 2004. The deadline for comments is 5 January. Select the links below for the draft clauses, Explanatory Notes, table of amendments and the March 2004 Draft Bill.
We have published a number of documents following the formal consultation on the draft Income Tax Bill published in February 2006. These are:
We have published, for public consultation, Paper CC/SC (06) 09 on Trusts modernisation (PDF 10K). Comments on the draft clauses are invited by 25 August 2006. Please select the relevant link below for the draft clauses and explanatory notes.
We have published, for public consultation, Paper
CC/SC (06) 10 on Charitable Trusts (PDF 10K). Comments on the draft
clauses are invited by 25 August 2006. Please select the relevant link
below for the draft clauses and explanatory notes.
The Tax Law Rewrite project has published a further Income Tax Bill (Bill 4) for a final round of public consultation. The consultation period ends on 31 May 2006. Use these links to get to the:
The Draft Bill contains rewritten legislation for the following:
The first Rewrite Act on income tax legislation was ITEPA 2003. The second was ITTOIA 2005. When enacted this Bill will complete the Project's work on income tax. The project will then turn to corporation tax.
Bill 4: We have published Response Documents to comments received on the draft clauses exposed in the following Papers:
We have published, for public consultation, Paper CC/SC (05) 36 on Trusts. Comments on the draft clauses are invited by 9 December 2005.
We have published, for public consultation, Paper CC/SC (05) 37 on Income Tax Calculation. Comments are invited by 9 December 2005.
We have published a Response Document (PDF 33K) to comments received on Paper CC(05)14 on Limits on Liability to Income Tax of Non-UK Residents.
We have published, for public consultation, Paper CC/SC (05) 33 on Transactions in land. Comments on the draft clauses are invited by 18 November 2005
We have published, for public consultation, Paper CC/SC (05) 34 on Sales of Occupation Income. Comments on the draft clauses are invited by 18 November 2005.
We have published, for public consultation, Paper CC/SC (05) 28 on deduction of tax at source. Comments on the draft clauses are invited by 11 November 2005.
We have published, for public consultation, Paper CC/SC (05) 29 on Partnership and Film-related losses. Comments on the draft clauses are invited by 11 November 2005.
We have published, for public consultation, Paper CC/SC (05) 30 on Income Tax Rates. Comments on the draft clauses are invited by 11 November 2005.
We have published, for public consultation, Paper CC/SC (05) 31 on transactions in securities. Comments on the draft clauses are invited by 11 November 2005.
We have published, for public consultation, Paper CC/SC (05) 25 on Transfer of assets abroad. Comments on the draft clauses are invited by 30 September 2005.
We have published, for public consultation, Paper CC/SC (05) 21 on Venture Capital Trusts. Comments on the draft clauses are invited by 30 September 2005.
We have published, for public consultation, Paper CC/SC (05) 24 on Relief for certain insurance payments, etc. Comments on the draft clauses are invited by 23 September 2005.
We have published, for public consultation, Paper CC/SC (05) 23 on Gifts of shares, securities and real property to charities, etc. Comments on the draft clauses are invited by 23 September 2005.
We have published, for public consultation, Paper CC/SC (05) 19 on Manufactured payments and repos. Comments on the draft clauses are invited by 30 September 2005.
Income Tax (Trading and Other Income) Bill
