Office of Public Sector Information

(2) “Existing HMRC concession” means a statement made by the Commissioners for Her Majesty’s Revenue and Customs before the passing of this Act, and having effect at that time, that they will treat persons as if they were entitled to—

(a) a reduction in a liability to a tax or duty, or

(b) any other concession relating to a tax or duty,

to which they are not, or may not be, entitled in accordance with the law.

(3) For this purpose “statement” means a statement of any sort, whether it was described as an extra-statutory concession, a statement of practice, an interpretation, a decision or a press release or in any other way.

(4) The reference in subsection (2) to the Commissioners for Her Majesty’s Revenue and Customs includes the Commissioners of Inland Revenue and the Commissioners of Customs and Excise.

(5) An order under this section—

(a) may give effect to an existing HMRC concession with or without modification,

(b) may include supplementary, incidental, consequential or transitional provision, and

(c) may include provisions amending (or repealing or revoking) any enactment or instrument (whenever passed or made).

(6) The power to make an order under this section is exercisable by statutory instrument.

(7) No order is to be made under this section unless a draft of the order has been laid before, and approved by a resolution of, the House of Commons.

161 Fuel duty: definition of “ultra low sulphur diesel”

(1) In section 1(6) of HODA 1979 (definition of “ultra low sulphur diesel”), omit paragraphs (b) and (c) (but not the “and” at the end of paragraph (c)).

(2) The amendment made by subsection (1) is treated as having come into force on 4 September 2007.

162 Duties: abolition of disregard of fractions of penny

In section 137 of CEMA 1979 (calculation of excise duty etc), omit subsection (4) (fractions of penny to be disregarded in calculation of duty).

163 National savings

(1) Section 10 of the National Debt Act 1972 (c. 65) (national savings stamps and gift tokens) is amended as follows.

(2) In subsection (2), after “tokens; and” insert “(subject to regulations under subsection (2A))”.

(3) After that subsection insert—

“(2A) Where the Treasury has issued a sum to the National Debt Commissioners under subsection (2), it may by regulations require them to repay to the National Loans Fund, in the way specified in the regulations, so much of that sum as may be specified in, or determined in accordance with, the regulations.”

164 EU emissions trading: criminal offences

(1) Section 16 of FA 2007 (EU emissions trading: charges for allocations) is amended as follows.

(2) In subsection (4)(c), for “imposition and recovery of penalties” substitute “creation of criminal offences, or for the imposition and recovery of civil penalties,”.

(3) After subsection (6) insert—

“(6A) Subsection (4)(c) does not permit the creation of a criminal offence with maximum penalties in excess of the maximum penalties which an instrument under section 2(2) of the European Communities Act 1972 may provide in respect of an offence created by such an instrument.”

Part 9 Final provisions

165 Interpretation

(1) In this Act—

• “ALDA 1979” means the Alcoholic Liquor Duties Act 1979 (c. 4),

• “BGDA 1981” means the Betting and Gaming Duties Act 1981 (c. 63),

• “CAA 2001” means the Capital Allowances Act 2001 (c. 2),

• “CEMA 1979” means the Customs and Excise Management Act 1979 (c. 2),

• “CRCA 2005” means the Commissioners for Revenue and Customs Act 2005 (c. 11),

• “CTTA 1984” means the Capital Transfer Tax Act 1984 (c. 51),

• “HODA 1979” means the Hydrocarbon Oil Duties Act 1979 (c. 5),

• “ICTA” means the Income and Corporation Taxes Act 1988 (c. 1),

• “IHTA 1984” means the Inheritance Tax Act 1984 (c. 51),

• “ITA 2007” means the Income Tax Act 2007 (c. 3),

• “ITEPA 2003” means the Income Tax (Earnings and Pensions) Act 2003 (c. 1),

• “ITTOIA 2005” means the Income Tax (Trading and Other Income) Act 2005 (c. 5),

• “OTA 1975” means the Oil Taxation Act 1975 (c. 22),

• “TCGA 1992” means the Taxation of Chargeable Gains Act 1992 (c. 12),

• “TMA 1970” means the Taxes Management Act 1970 (c. 9),

• “TPDA 1979” means the Tobacco Products Duty Act 1979 (c. 7),

• “VATA 1994” means the Value Added Tax Act 1994 (c. 23), and

• “VERA 1994” means the Vehicle Excise and Registration Act 1994 (c. 22).

(2) In this Act—

• “FA”, followed by a year, means the Finance Act of that year, and

• “F(No.2)A”, followed by a year, means the Finance (No.2) Act of that year.

166 Short title

This Act may be cited as the Finance Act 2008.