The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2006

Interpretation : general

2.—(1) This paragraph gives the meaning of the abbreviated references to Acts used in these Regulations—

“CAA 2001” means the Capital Allowances Act 2001(1);

“FA 2004” means the Finance Act 2004;

“ICTA” means the Income and Corporation Taxes Act 1988(2);

“ITEPA 2003” means the Income Tax (Earnings and Pensions) Act 2003(3);

“ITTOIA 2005” means the Income Tax (Trading and Other Income) Act 2005(4);

“TCGA 1992” means the Taxation of Chargeable Gains Act 1992(5).

(2) In these Regulations—

“business” has the meaning given by regulation 3;

“the Information Regulations” means the Tax Avoidance Schemes (Information) Regulations 2004(6);

“lease”, “lessor” and “lessee” are to be construed in accordance with regulation 14(1);

“plant or machinery lease” has the meaning given by regulation 14;

“the Promoters Regulations” means the Tax Avoidance Schemes (Promoters and Prescribed Circumstances) Regulations 2004(7);

“small or medium-sized enterprise” has the meaning given by regulation 4;.

(3) For the purposes of these Regulations section 839 of ICTA(8) applies to determine whether persons are connected.

(1)

2001 c. 2.

(2)

1988 c. 1.

(3)

2003 c. 1.

(4)

2005 c. 5.

(5)

1992 c. 12.

(6)

S.I. 2004/1864, amended by S.I. 2005/1869.

(7)

S.I. 2004/1865, amended by regulation 2 of S.I. 2004/2613.

(8)

Section 839 was amended by paragraph 20 of Schedule 17 to the Finance Act 1995 (c. 4) and by paragraph 340 of Schedule 1 to the Income Tax (Trading and Other Income) Act 2005.