Income Tax Act 2007 section 330B

Powers to amend Chapters 3 and 4 by Treasury regulations

Section 330B grants the Treasury the power to amend Chapters 3 and 4 of Part 6 by way of regulations, subject to parliamentary approval and certain constraints on retrospective effect.

• The Treasury may add to, repeal or otherwise amend any provision in Chapter 3 or Chapter 4 by regulations, with flexibility to make different provision for different cases or purposes.
• Regulations may include incidental, supplemental, consequential and transitional provisions, and may amend this Act or any other Act, including Acts passed after the Income Tax Act 2007.
• Regulations may be given retrospective effect for the current or previous tax year, but only where they do not increase any person's tax liability — in other words, retrospective changes must be wholly relieving.
• Any statutory instrument containing these regulations must be laid before and approved by a resolution of the House of Commons before it can be made (the draft affirmative procedure).