Finance Act 2010

Other interpretative provisions U.K.

49 (1) In this Schedule— U.K.

• “arrangements” includes any agreement, understanding, scheme, transaction or series of transactions (whether or not legally enforceable);

• “benefit” includes a facility of any kind;

• “building society” means a building society within the meaning of the Building Societies Act 1986;

• “the Commissioners” means the Commissioners of Her Majesty's Revenue and Customs;

• “contract of insurance” has the meaning given by section 431(2) of ICTA;

• “control” has the meaning given by section 995 of ITA 2007;

• “employment”, “employee” and “employer” have the same meaning as in the employment income Parts of ITEPA 2003 (see sections 4 and 5 of that Act);

• “enactment” includes an enactment or instrument (whenever passed or made);

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

• “insurance company” and “insurance special purpose vehicle” have the meaning given by section 431(2) of ICTA;

• “market value” has the same meaning it has for the purposes of TCGA 1992 by virtue of Part 8 of that Act;

• “money's worth” has the meaning given by section 62(3) of ITEPA 2003;

• “partnership” includes—

  (a)

  a limited liability partnership, and

  (b)

  an entity established under the law of a territory outside the United Kingdom of a similar character to a partnership (and “member”, in relation to a partnership, is to be read accordingly);

• “period of account” and “permanent establishment” have the meaning given by section 1119 of CTA 2010;

• “the tax year 2009-10” has the same meaning as in the Income Tax Acts (see section 989 of ITA 2007).

(2) Section 170(2) to (11) of TCGA 1992 (“group”, “principal company”, “effective 51% subsidiary”, “company” etc) has effect for the interpretation of this Schedule as for the interpretation of sections 171 to 181 of that Act.

(3) Section 993 of ITA 2007 (meaning of “connected” persons) applies for the purposes of this Schedule.

(4) For the purposes of this Schedule the territory in which a company is resident is to be determined as for the purposes of the Corporation Tax Acts.