The Stamp Duty Reserve Tax Regulations 1986

UK Statutory Instrument 1986 No. 1711 — creates 4 criminal offences.

4offences created

0recorded in force

0revoked

Made: 2 October 1986
In force from: 27 October 1986
Extent: Not stated
Subject: Tax, customs and excise
Made under: Finance Act 1986

Explanatory note

(This note is not part of the Regulations) — published with the instrument by the department that made it. © Crown copyright, reused under the Open Government Licence v3.0.

These Regulations provide for the management of stamp duty reserve tax imposed by Part IV of the Finance Act 1986. Regulation 1 gives the title and commencement date and Regulation 2defines terms used. Regulation 3 provides the date by which tax must be paid. Regulation 4 provides for the giving of notice of charge to the Inland Revenue and for the payment of tax. Regulation 5 enables the Inland Revenue to obtain information. Regulation 6 enables the Inland Revenue to determine matters specified in a notice of determination. Regulation 7 enables certain persons to claim to be relieved of liability to pay tax. Regulations 8–10 provide for the giving of notices of appeal and late appeals. Regulation 11 provides that interest shall be paid on overpaid tax that is repaid. Regulation 12 provides for the recovery of tax and Regulation 13 makes provision in respect of underpayments of tax. Regulation 14 provides for the repayment of tax overpaid together with any interest paid on such tax. Regulation 15 provides that certain records shall be made available for inspection by the Inland Revenue. Regulation 16 provides that certain certificates shall be admissible in evidence. Regulation 17 provides that tax liability shall remain unaltered notwithstanding a subsequent legal decision or changed view of the law. Regulation 18 provides for the recovery of over repayments of tax and overpayments of interest. Regulation 19 provides for the service of documents. Regulation 20 applies the provisions of Taxes Management Act 1970 specified in the first column of the Table in Part I of the Schedule to the Regulations, with the modifications specified in the second column of that Table. Those provisions, as modified where appropriate, are set out in Part II of the Schedule. Regulation 21 disapplies certain provisions of the Inland Revenue Regulation Act 1890.

Offences created by this instrument

Valuation of assets: power to inspect paragraph 111(2) of SCHEDULE · Status not determined · Requires proof of a state of mind
Incorrect notice, etc. for stamp duty reserve tax paragraph 95(1) of SCHEDULE · Status not determined · Mixed — some elements strict, some not
Special returns, etc paragraph 98(2) of SCHEDULE · Status not determined · Mixed — some elements strict, some not
Assisting in giving incorrect notice, etc paragraph 99 of SCHEDULE · Status not determined · Strict liability

What Parliament said about it

Hansard was searched for this instrument by name and returned nothing. That is the ordinary outcome: an instrument laid under the negative procedure is usually never debated, and becomes law without a word said about it in either House.

How Parliament handled it

Parliament's Statutory Instruments service records procedure from May 2017 onwards, and this instrument predates it. That is a limit of the source, not a statement that nothing happened.

Check the source

This instrument on legislation.gov.uk The authoritative text, including amendments made since
Other instruments from 1986