Schedule 11, Part 5, paragraph 105

The Treasury may by regulations make provision about the fiscal consequences of the exercise of a stabilisation power. Regulations may relate to— capital gains tax, corporation tax, income tax, inheritance tax, stamp duty, stamp duty land tax, or stamp duty reserve tax. Regulations may apply to— anything done in connection with an instrument, things transferred or otherwise affected by virtue of an instrument, a transferor or transferee under an instrument, and persons otherwise affected by an instrument. Regulations may— modify or disapply an enactment; provide for an action to have or not have specified consequences; provide for specified classes of property (including securities), rights or liabilities to be treated, or not treated, in a specified way; withdraw or restrict a relief; extend, restrict or otherwise modify a charge to tax; provide for matters to be determined by the Treasury in accordance with provision made by or in accordance with the regulations. Regulations may make provision for the fiscal consequences of the exercise of a stabilisation power in respect of things done— during the period of three months before the date on which the stabilisation power is exercised, or on or after that date. In relation to the exercise of a supplemental, onward, bridge or subsequent instrument under paragraph 49, 50, 52, 66, 67, 69, 71, 73 or 82, in sub-paragraph (5)(a) above “the stabilisation power” is a reference to the first stabilisation power in connection with which the supplemental, onward, bridge or subsequent instrument is made. The Treasury may by regulations amend sub-paragraph (2) so as to— add an entry, or remove an entry. Regulations under this paragraph are subject to the affirmative procedure.

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Source: legislation.gov.uk · retrieved 2026-09-04