Finance Act 2022

PART 4 Supplementary

Regulations

28 (1) Regulations under this Schedule are to be made by statutory instrument.

(2) Subject to sub-paragraph (3), a statutory instrument containing regulations under this Schedule is subject to annulment in pursuance of a resolution of the House of Commons.

(3) A statutory instrument containing regulations under paragraph 11(5), which change the sum for the time being specified in paragraph 11(2)(b) by more than is necessary to reflect changes in the value of money, may not be made unless a draft of the instrument has been laid before and approved by a resolution of the House of Commons.

Application of provisions of TMA 1970

29 Subject to the provisions of this Schedule, the following provisions of TMA 1970 apply for the purposes of this Schedule as they apply for the purposes of the Taxes Acts—

(a) section 108 (responsibility of company officers);

(b) section 114 (want of form);

(c) section 115 (delivery and service of documents).

Interpretation

30 In this Schedule—

• “the charge to corporation tax on income” has the same meaning as in CTA 2009 (see section 2(3) of that Act);

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

• “transaction” includes arrangements, agreements and understandings (whether or not they are, or are intended to be, legally enforceable).