Income Tax (Trading and Other Income) Act 2005 section 767

Power to amend references to the Directive by Order

Section 767 grants the Treasury the power to update the tax exemption provisions by order when changes are made to the underlying EU Directive.

• The Treasury may amend the relevant exemption provisions by statutory order.
• This power applies where amendments to, or replacements of, the Directive are adopted after 8 April 2004.
• The purpose is to ensure UK tax law remains aligned with any changes to the Directive on which the exemption is based.
• This provision was subsequently amended by Finance Act 2021, section 34(1)(a).