Income Tax Act 2007 section 257MW

Excluded activities: power to amend

Section 257MW gives the Treasury the power to change the rules on which activities count as excluded activities for the purposes of social investment tax relief.

• The Treasury may add to, remove or otherwise change any of the excluded activity provisions in sections 257MQ to 257MT by way of regulations.
• Regulations may make different provision for different circumstances and may include incidental, supplementary, consequential and transitional provisions and savings.
• Where regulations cause an activity to stop being an excluded activity, the change can be applied retrospectively, but not to any time before 6 April 2015.
• This power does not limit any other existing power to amend provisions within this part of the Act.