Taxes Management Act 1970 section 119

Commencement and construction

Section 119 sets out when the Taxes Management Act 1970 came into force and how it should be interpreted alongside other tax legislation.

• The Act came into force on 6 April 1970, replacing the corresponding earlier enactments that were repealed by the principal Act
• The Act and the repeals made by the principal Act are subject to the transitional provisions in Schedule 4
• For income tax and corporation tax purposes, the Act is to be read and interpreted together with the principal Act (the Income and Corporation Taxes Act 1988)
• For chargeable gains purposes, the Act is to be read and interpreted together with the Taxation of Chargeable Gains Act 1992 and the Income Tax (Earnings and Pensions) Act 2003