[F1341 Carrying on of highway undertakingsU.K.
(1)For the purposes of this Part the carrying on of a highway undertaking is to be treated as the carrying on of an undertaking by way of trade; and accordingly references in this Part (except sections 274 and 276) to a trade include a highway undertaking.
(2)For the purposes of this Part a person carrying on a highway undertaking is to be treated as occupying, for the purposes of the undertaking, any road in relation to which it is carried on.
(3)In this Chapter “highway undertaking” has the meaning given in item 6 of Table B in section 274.
(4)In that item and this Chapter “highway concession”, in relation to a road, means—
(a)a right to receive sums from [F2the relevant authority] because the road is or will be used by the general public, or
(b)if the road is a toll road, the right to charge tolls in respect of the road.
[F3(5) In subsection (4) “ the relevant authority ” means—
(a)the Secretary of State,
(b)the Scottish Ministers,
(c)the National Assembly for Wales, or
(d)the Department for Regional Development in Northern Ireland.]]
Textual Amendments
F1Pt. 3 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85, 86 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)
F2Words in s. 341(4) substituted (with effect as mentioned in s. 69(2) of the amending Act) by Finance Act 2001 (c. 9), s. 69(1), Sch. 21 para. 6(1)
F3S. 341(5) inserted (with effect as mentioned in s. 69(2) of the amending Act) by Finance Act 2001 (c. 9), s. 69(1), Sch. 21 para. 6(2)