http://www.legislation.gov.uk/ukpga/1994/9/section/73Finance Act 1994An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1994-05-03texttext/xmlenStatute Law Database2025-05-24Expert Participation2025-05-01 Part III Insurance Premium Tax Supplementary Interpretation: other provisions.731Unless the context otherwise requires—“accounting period” shall be construed in accordance with section 54 above;“appeal tribunal” means the First-tier Tribunal or, where determined by or under Tribunal Procedure Rules, the Upper Tribunal; ;“authorised person” means any person acting under the authority of the Commissioners;“the Commissioners” means the Commissioners of Customs and Excise;“conduct” includes any act, omission or statement; “excepted premium” has the meaning given by section 69A(7) above; “the higher rate” shall be construed in accordance with section 51 above; “HMRC” means Her Majesty’s Revenue and Customs; “insurance business” means a business which consists of or includes the provision of insurance;“insurer” means a person or body of persons (whether incorporated or not) carrying on insurance business;“legislation relating to insurance premium tax” means this Part (as defined by subsection (9) below), any other enactment (whenever passed) relating to insurance premium tax, and any subordinate legislation made under any such enactment; “part-exempt contract” has the meaning given by section 69A(7) above; “prescribed” means prescribed by an order or regulations under this Part;“the standard rate” shall be construed in accordance with section 51 above;“tax” means insurance premium tax;...“taxable business” means a business which consists of or includes the provision of insurance under taxable insurance contracts;“taxable insurance contract” shall be construed in accordance with section 70 above.“taxable intermediary” shall be construed in accordance with section 52A above;“taxable intermediary’s fees” has the meaning given by section 53AA(9) above.2A risk is situated in the United Kingdom if, by virtue of section 96A(3) of the Insurance Companies Act 1982, it is situated in the United Kingdom for the purposes of that Act.3Subject to subsection (3A) below, a registrable person is a person who—ais registered under section 53 above, orbis liable to be registered under that section.3AReferences in sections 53A and 54 above and paragraphs 1, 9 and 12 of Schedule 7 to this Act to a registrable person include a reference to a person who—ais registered under section 53AA above; orbis liable to be registered under that section.4A commercial ship is a ship which is—aof a gross tonnage of 15 tons or more, andbnot designed or adapted for use for recreation or pleasure.5A commercial aircraft is an aircraft which is—aof a weight of 8,000 kilogrammes or more, andbnot designed or adapted for use for recreation or pleasure.6A lifeboat is a vessel used or to be used solely for rescue or assistance at sea; and lifeboat equipment is anything used or to be used solely in connection with a lifeboat.7Foreign or international railway rolling stock is railway rolling stock used principally for journeys taking place wholly or partly outside the United Kingdom.8Goods in foreign or international transit are goods in transit where their carriage—abegins and ends outside the United Kingdom,bbegins outside but ends in the United Kingdom, orcends outside but begins in the United Kingdom.9A reference to this Part includes a reference to any order or regulations made under it and a reference to a provision of this Part includes a reference to any order or regulations made under the provision, unless otherwise required by the context or any order or regulations.10This section has effect for the purposes of this Part.Definitions in s. 73(1) inserted (19.3.1997 with effect as mentioned in s. 24 of the amending Act) by 1997 c. 16, s. 21(2)Definition in s. 73(1) inserted (1.5.1995) by 1995 c. 4, s. 34, Sch. 5 para. 6Definitions in s. 73(1) inserted (19.3.1997) by 1997 c. 16, s. 27(9)1982 c. 50. Words in s. 73(3) inserted (19.3.1997) by 1997 c. 16, s. 27(10)S. 73(3A) inserted (19.3.1997) by 1997 c. 16, s. 27(10)Words in s. 73(1) omitted (21.7.2008) by virtue of Finance Act 2008 (c. 9), s. 142(1)(c)Words in s. 73(1) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 208(2)(a)Words in s. 73(1) inserted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 208(2)(b)Words in s. 73(1) inserted (1.3.2012) by The Enactment of Extra-Statutory Concessions Order 2012 (S.I. 2012/266), arts. 1, 2(6)