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Statutory Instruments
1995 No. 2932 (C. 62)
INCOME TAX
The Income and Corporation Taxes Act 1988, section 51A, (Appointed Day) Order 1995
Made
15th November 1995
The Treasury, in exercise of the powers conferred on them by section 51A(10) of the Income and Corporation Taxes Act 1988(1), hereby make the following Order:
1. This Order may be cited as the Income and Corporation Taxes Act 1988, section 51A, (Appointed Day) Order 1995.
2. The day appointed for the purposes of section 51A of the Income and Corporation Taxes Act 1988 is 2nd January 1996.
Simon Burns
David Willetts
Two of the Lords Commissioners of Her Majesty's Treasury
15th November 1995
Explanatory Note
(This note is not part of the Order)
Section 51A of the Income and Corporation Taxes Act 1988 ("section 51A"), inserted by section 77 of the Finance Act 1995, provides that, in certain circumstances, interest on gilt-edged securities shall be paid without deduction of income tax and that the interest so paid shall be chargeable under Case III of Schedule D. Subsection (10) of section 51A provides that section 51A shall not apply to any interest paid before such day as the Treasury may by order appoint.
The day appointed by this Order for the purposes of section 51A is 2nd January 1996.
1988 c. 1; section 51A was inserted by section 77 of the Finance Act 1995 (c. 4).