318Interpretation of Part 7

• “advantage”, in relation to any tax, means—

  1. a

     relief or increased relief from, or repayment or increased repayment of, that tax, or the avoidance or reduction of a charge to that tax or an assessment to that tax or the avoidance of a possible assessment to that tax,

  2. b

     the deferral of any payment of tax or the advancement of any repayment of tax, or

  3. c

     the avoidance of any obligation to deduct or account for any tax;

• F4“ company ” has the meaning given by section 1121 of the Corporation Tax Act 2010;

• “corporation tax” includes any amount which, by virtue of any of the provisions mentioned in paragraph 1 of Schedule 18 to the Finance Act 1998 (c. 36) (company tax returns, assessments and related matters) is assessable and chargeable as if it were corporation tax;

• F1“HMRC” means the Commissioners for Her Majesty's Revenue and Customs;

• F7“introducer”, in relation to a notifiable proposal, has the meaning given by section 307;

• “make a firm approach” has the meaning given by section 307(4A);

• “make a marketing contact” has the meaning given by section 307(4B);

• “notifiable arrangements” has the meaning given by section 306(1);

• “notifiable proposal” has the meaning given by section 306(2);

• “prescribed”, except in section 306, means prescribed by regulations made by the Board;

• “promoter”, in relation to notifiable arrangements or a notifiable proposal, has the meaning given by section 307;

• “reference number”, in relation to notifiable arrangements, has the meaning given by section 311(3);

• F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• “tax” means—

  1. a

     income tax,

  2. b

     capital gains tax,

  3. c

     corporation tax,

  4. d

     petroleum revenue tax,

  5. e

     inheritance tax,

  6. f

     stamp duty land tax, or

  7. g

     stamp duty reserve tax.

• F5“ trade ” includes every venture in the nature of trade.

• F3“tribunal” means the First-tier tribunal, or where determined by or under Tribunal Procedure Rules, the Upper Tribunal.