Taxation (International and Other Provisions) Act 2010 Schedule 10 Part 6

Oil activities – consequential repeals

Schedule 10 Part 6 lists the provisions in earlier legislation that are repealed as a consequence of the oil activities rules being rewritten and consolidated into the Taxation (International and Other Provisions) Act 2010.

• Part 6 of Schedule 10 sets out the consequential repeals needed because the oil activities tax provisions have been rewritten and consolidated into the 2010 Act.
• The repeals cover provisions spread across numerous earlier Acts, from the Finance Act 1982 through to the Corporation Tax Act 2009, spanning nearly three decades of legislation.
• Key repeals include sections from the Income and Corporation Taxes Act 1988 (sections 493, 495, 496, and 502), sections 62 to 65 of the Finance Act 1991, and section 104 of the Finance Act 2008, among others.
• The repeals also remove consequential amendment provisions in later Acts — such as the Capital Allowances Act 2001, the Income Tax (Trading and Other Income) Act 2005, and the Corporation Tax Act 2009 — that had themselves amended the now-superseded oil activities provisions.