Taxes Management Act 1970

[F1 Supplementary U.K.

Textual Amendments

F1 Sch. 3ZAA inserted (with effect in accordance with Sch. 7 para. 7 of the amending Act) by Finance Act 2019 (c. 1), Sch. 7 para. 2

9 U.K. If, for the purposes of any double taxation arrangements, a person is treated at any time as resident in a territory other than an EEA state, the person is also to be treated as resident there at that time for the purposes of this Schedule.

10 U.K. In this Schedule—

• “deferrable exit charge” has the meaning given by paragraph 4(1)(a);

• “deferred exit charge” has the meaning given by paragraph 4(2);

• “double taxation arrangements” means arrangements made by two or more territories with a view to affording relief from double taxation;

• “economically significant activity” has the meaning given by section 13A(4) of the 1992 Act (reading references to a company as references to trustees);

• “exit charge” means—

  (a)

  for the purposes of paragraph 2, any amount of capital gains tax which a person is liable to pay for a tax year which the person would not be liable to pay if gains arising by virtue of section 25 of the 1992 Act in the tax year were ignored;

  (b)

  for the purposes of paragraph 3, any amount of capital gains tax which the relevant trustees are liable to pay for a tax year which they would not be liable to pay if gains arising by virtue of section 80 of the 1992 Act in the tax year were ignored;

• “right to freedom of establishment” means a right protected by—

  (a)

  Article 49 of the Treaty on the Functioning of the European Union, or

  (b)

  Article 31 of the EEA agreement;

• “taxpayer” has the meaning given by paragraph 4(2);

• “trade” includes a profession or vocation.]