Taxes Management Act 1970 section 80

Charge on percentage of turnover

Section 80 previously provided for a charge based on a percentage of turnover in certain tax situations, but has been repealed.

• Section 80 of the Taxes Management Act 1970 dealt with imposing a charge calculated as a percentage of a taxpayer's turnover.
• The section was repealed by the Finance Act 1995, Schedule 29, Part 8(16), and is no longer in force.
• Any historical tax matters that arose under this section while it was in effect would have been governed by the rules as they stood at the relevant time.
• Current tax legislation no longer includes this provision, so it has no practical application today.

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