Finance Act 2013

174 General interpretation of Part 3 U.K.

(1) In this Part—

• “chargeable day” (in relation to a single-dwelling interest) is to be read in accordance with section 170;

• “chargeable interest” has the meaning given by section 107;

• “the chargeable person” has the meaning given by section 96(2) or (3);

• “closure notice” has the meaning given by paragraph 16 of Schedule 33;

• “collective investment scheme” has the same meaning as in Part 17 of the Financial Services and Markets Act 2000 (see section 235 of that Act);

• “company” has the meaning given by section 166(1);

• “completion”, in Scotland, means—

  (a)

  in relation to a lease, when it is executed by the parties (that is to say, by signing) or constituted by any means,

  (b)

  in relation to any other transaction, the settlement of the transaction;

• “discovery assessment” has the meaning given by paragraph 21 of Schedule 33;

• “EEAUCITS” has the same meaning as in Part 17 of the Financial Services and Markets Act 2000 (see section 237 of that Act);

• “excluded rents” has the meaning given by section 133(6);

• “farming” has the meaning given by section 148(4);

• “filing date”, in relation to an annual tax on enveloped dwellings return or a return of the adjusted chargeable amount, has the meaning given by paragraph 58 of Schedule 33;

• “financial institution” has the meaning given by section 143 (except where otherwise stated);

• “HMRC” means Her Majesty's Revenue and Customs;

• “HMRC determination” has the meaning given by paragraph 18 of Schedule 33;

• “jointly entitled” means—

  (a)

  in England and Wales, beneficially entitled as joint tenants or tenants in common,

  (b)

  in Scotland, entitled as joint owners or owners in common,

  (c)

  in Northern Ireland, beneficially entitled as joint tenants, tenants in common or coparceners;

• “land” includes—

  (a)

  buildings and structures, and

  (b)

  land covered by water;

• “market value” has the meaning given by section 98(8);

• “notice of enquiry” has the meaning given by paragraph 8 of Schedule 33;

• “open-ended investment company” has the same meaning as in Part 17 of the Financial Services and Markets Act 2000 (see section 236(1) of that Act);

• “participant”, in relation to a collective investment scheme, has the meaning given by section 98(7);

• “partnership” has the meaning given by section 167;

• “property development trade” has the meaning given by section 138(4);

• “property rental business” has the meaning given by section 133(4);

• “property trading business” has the meaning given by section 141(3);

• “qualifying property rental business” has the meaning given by section 133(3);

• “self assessment” has the meaning given by section 161(3);

• “tax” means tax under this Part;

• “trade” has the same meaning as in section 35 of CTA 2009 (and cognate expressions are to be read accordingly);

• “unit trust scheme” has the same meaning as in Part 17 of the Financial Services and Markets Act 2000 (see section 237(1) of that Act).

(2) In this Part—

• references to the “adjusted chargeable amount”, in relation to a person on whom tax is charged for a chargeable period with respect to a single-dwelling interest, are to be read in accordance with section 105;

• references to an “annual tax on enveloped dwellings return” are to be read in accordance with section 159(4);

• references to the “daily amount” for a day are to be read in accordance with section 105(2);

• references to “delivery”, in relation to an annual tax on enveloped dwellings return, are to be read in accordance with paragraph 2 of Schedule 33;

• references to the “effective date” of an acquisition are to be read in accordance with section 121(4);

• references to the “effective date” of a disposal are to be read in accordance with section 121(5);

• references to a “major interest” in land are to be read in accordance with section 117 of FA 2003;

• [F1 references to the “management company”, in relation to an EEA UCITS, are to be read in accordance with Article 2.1(b) of the Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities;]

• references to a “return of the adjusted chargeable amount” are to be read in accordance with section 160(6);

• references to meeting the “ownership condition” are to be read in accordance with section 94(4) to (6);

• references to being “within the charge” with respect to a single-dwelling interest are to be read in accordance with section 170.

Textual Amendments

F1 Words in s. 174(2) inserted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 22(2) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)