Part 1Overview

1Overview of Act

1

The following Parts contain provisions relating to international aspects of taxation—

a

Parts 2 and 3 (double taxation relief),

b

Parts 4 and 5 (transfer pricing and advance pricing agreements),

F3c

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F2ca

Part 6A (hybrid and other mismatches),

F7d

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e

Part 8 (offshore funds F1etc),

F4f

Part 9A (controlled foreign companies), and

g

Part 10 (corporate interest restriction).

2

Part 9 contains amendments of tax legislation to relocate enactments to appropriate places.

3

In particular, Part 9 contains amendments of TCGA 1992, ITTOIA 2005 and ITA 2007 that insert provisions relating to—

a

oil activities (see section 364 and Schedule 1),

b

alternative finance arrangements (see section 365 and Schedule 2),

c

leasing arrangements involving finance leases or loans (see section 367 and Schedule 3),

d

sale and lease-back etc (see section 368 and Schedule 4),

e

factoring of income etc (see section 369 and Schedule 5), and

f

UK representatives of non-UK residents (see section 370 and Schedule 6).

4

Part F511 contains provisions of general application (including definitions for the purposes of the Act).

5

For abbreviations used in this Act see section F6500, and for defined expressions used in Parts 2 to 8 see Schedule 11.