Taxes Management Act 1970

Interpretation

118 Interpretation

(1) In this Act, unless the context otherwise requires—

• " Act " includes an Act of the Parliament of Northern Ireland and " enactment" shall be construed accordingly,

• " the Board " means the Commissioners of Inland Revenue,

• " body of persons " means any body politic, corporate or collegiate, and any company, fraternity, fellowship and society of persons, whether corporate or not corporate,

• " branch or agency " means any factorship, agency, receivership, branch or management, and " branch or agent " shall be construed accordingly,

• " chargeable gain " has the same meaning as in Part III of the [1965 c. 25.] Finance Act 1965,

• " chargeable period " means a year of assessment or a company's accounting period,

• " collector " means any collector of taxes,

• " company " has the meaning given by section 526(5) of the principal Act (with section 354 of that Act),

• " incapacitated person " means any infant, person of unsound mind, lunatic, idiot or insane person,

• " inspector " means any inspector of taxes,

• " neglect " means negligence or a failure to give any notice, make any return or to produce or furnish any document or other information required by or under the Taxes Acts,

• " the principal Act " means the [1970 c. 10.] Income and Corporation Taxes Act 1970,

• " return " includes any statement or declaration under the Taxes Acts,

• " tax ", where neither income tax nor capital gains tax nor corporation tax is specified, means any of those taxes,

• " the Taxes Acts " means this Act and—

  (a)

  the Tax Acts as defined in section 526(2) of the principal Act, and

  (b)

  Part III of the Finance Act 1965 and all other enactments relating to capital gains tax,

• " trade " includes every trade, manufacture, adventure or concern in the nature of trade.

(2) For the purposes of this Act, a person shall be deemed not to have failed to do anything required to be done within a limited time if he did it within such further time, if any, as the Board or the Commissioners or officer concerned may have allowed; and where a person had a reasonable excuse for not doing anything required to be done he shall be deemed not to have failed to do it if he did it without unreasonable delay after the excuse had ceased:

Provided that this subsection shall not apply for the purposes of section 10(2) or 16(6) of this Act.

(3) For the purposes of sections 37 to 39 and Part X of this Act, an assessment made in the partnership name and the tax charged in such an assessment shall, according to the law in Scotland as well as according to the law elsewhere in the United Kingdom, be deemed to be respectively an assessment made on the partners and tax charged on and payable by them.

(4) For the purposes of this Act, the amount of tax covered by any assessment shall not be deemed to be finally determined until that assessment can no longer be varied, whether by any Commissioners on appeal or by the order of any court.