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Income Tax (Trading and Other Income) Act 2005

Status:

This is the original version (as it was originally enacted).

Section 885

SCHEDULE 4Abbreviations and defined expressions

This schedule has no associated Explanatory Notes

Part 1Abbreviations of Acts

F(No.2)A 1915The Finance (No. 2) Act 1915 (c. 89)
FA 1920The Finance Act 1920 (c. 18)
F(No.2)A 1931The Finance (No. 2) Act 1931 (c. 49)
FA 1968The Finance Act 1968 (c. 44)
TMA 1970The Taxes Management Act 1970 (c. 9)
FA 1984The Finance Act 1984 (c. 43)
IHTA 1984The Inheritance Tax Act 1984 (c. 51)
ICTAThe Income and Corporation Taxes Act 1988 (c. 1)
FA 1988The Finance Act 1988 (c. 39)
FA 1989The Finance Act 1989 (c. 26)
FA 1990The Finance Act 1990 (c. 29)
TCGA 1992The Taxation of Chargeable Gains Act 1992 (c. 12)
F(No.2)A 1992The Finance (No. 2) Act 1992 (c. 48)
FA 1993The Finance Act 1993 (c. 34)
FA 1994The Finance Act 1994 (c. 9)
VATA 1994The Value Added Tax Act 1994 (c. 23)
FA 1995The Finance Act 1995 (c. 4)
FA 1996The Finance Act 1996 (c. 8)
F(No.2)A 1997The Finance (No. 2) Act 1997 (c. 58)
FA 1998The Finance Act 1998 (c. 36)
FISMA 2000The Financial Services and Markets Act 2000 (c. 8)
FA 2000The Finance Act 2000 (c. 17)
CAA 2001The Capital Allowances Act 2001 (c. 2)
FA 2001The Finance Act 2001 (c. 9)
FA 2002The Finance Act 2002 (c. 23)
ITEPA 2003The Income Tax (Earnings and Pensions) Act 2003 (c. 1)
FA 2003The Finance Act 2003 (c. 14)
FA 2004The Finance Act 2004 (c. 12)

Part 2Index of expressions defined in this Act etc.

absolute interest (for the purposes of Chapter 6 of Part 5)section 650(1)
accounting date (in Chapter 15 of Part 2)section 197
accounting periodsections 12 and 834(1) of ICTA
acquisition expenditure (in Chapter 9 of Part 2)section 130(3)
adjustment expense (in Chapter 17 of Part 2)section 228(3)
adjustment expense (in Chapter 7 of Part 3)section 330(3)
adjustment income (in Chapter 17 of Part 2)section 228(2)
adjustment income (in Chapter 7 of Part 3)section 330(2)
the administration period (in Chapter 6 of Part 5)section 653(1)
the aggregate income of the estate (for the purposes of Chapter 6 of Part 5)section 664(1)
the amount of premiums paid (in Chapter 9 of Part 4)section 545(3)
animal (in Chapter 8 of Part 2)section 112(1)
animal being added to a herd (in Chapter 8 of Part 2)section 112(6)
animals in a herd or part of a herd (for the purposes of Chapter 8 of Part 2)section 112(3) to (5)
assignment (in the application of the Act to Scotland)section 879(1)
assignment (of part or share in rights under a policy or contract) (in Chapter 9 of Part 4)section 505(2)
assignment (of whole of rights under a policy or contract) (in Chapter 9 of Part 4)section 505(2)
assumed income entitlement (for the purposes of Chapter 6 of Part 5)section 665(2), (3)
authorised unit trustsection 832(1) of ICTA
averaging claim (in Chapter 16 of Part 2)section 221(1)
bank arrangement (in Chapter 4 of Part 6)section 704(4)(a)
the basic amount (in relation to estate income) (in Chapter 6 of Part 5)section 656(4)
basic ratesection 832(1) of ICTA
basic relieving amount by reference to a taxed receipt (in Chapter 4 of Part 3)sections 288(4), 289(2), (4)
the Board of Inland Revenuesection 878(1)
body of personssection 832(1) of ICTA
building societysection 832(1) of ICTA
building society arrangement (in Chapter 4 of Part 6)section 704(5)(a)
calculation event (in Chapter 9 of Part 4)section 491(4)
capital allowancesection 832(1) of ICTA
capital cost of patent rights (in Chapter 2 of Part 5)section 588(4)
capital redemption policy (in Chapter 9 of Part 4)section 473(2)
capital sums (in Chapter 2 of Part 5)section 608
capital sums included in the proceeds of sale (in relation to the exchange of property) (in Chapter 2 of Part 5)section 605(5)
caravansection 875
certified master version (in Chapter 9 of Part 2)section 132(3)
certified SAYE savings arrangement (in Chapter 4 of Part 6)section 703(1)
chargeable event (in Chapter 9 of Part 4)section 484
chargeable periodsection 832(1) of ICTA
charitable trust (in Chapter 9 of Part 4)section 545(1)
charitysection 878(1)
childsection 832(5) of ICTA
claimsection 878(3)
close companysections 414 and 415 of ICTA
commercial letting of furnished holiday accommodation (for purposes of Chapter 6 of Part 3)sections 323 to 326
companysection 832(1) of ICTA
company (for all purposes in the Income Tax Acts)section 863(2)(c)
connected (in the context of “connected person” or one person being “connected” with another)section 839 of ICTA (see section 878(5) of this Act)
consideration received for disposal of know-how (for purposes of Chapter 14 of Part 2)section 192(3), (4)
contract of insurance (in Chapter 9 of Part 4)section 545(1)
control (in relation to a body corporate)section 840 of ICTA (see section 878(6) of this Act)
corporation tax receipt (in Chapter 4 of Part 3)section 296(1)
coupons (in Chapter 13 of Part 4)section 571(3)
deeply discounted security (for the purposes of Chapter 8 of Part 4)sections 430 to 443(1)
deposit rights (in Chapter 11 of Part 4)section 552
discretionary interest (for the purposes of Chapter 6 of Part 5)section 650(3)
disposal of a deeply discounted security (in Chapter 8 of Part 4)section 437(1)
distributionsection 832(1) of ICTA
the dividend ordinary ratesection 832(1) of ICTA
the dividend trust ratesection 832(1) of ICTA
the dividend upper ratesection 832(1) of ICTA
dividends (in Chapter 3 of Part 4)section 382(4)
dividends (in Chapter 4 of Part 4)section 402(4)
electionsection 878(3)
employment incomesection 7(2) of ITEPA 2003
estate (in Chapter 6 of Part 5)section 649(2)
estate income (in Chapter 6 of Part 5)section 649(2)
estate in land (in relation to any land in Scotland)section 832(1) of ICTA
European authorised institution (in Chapter 4 of Part 6)section 704(6)
European authorised institution arrangement (in Chapter 4 of Part 6)section 704(6)
excess event (in Chapter 9 of Part 4)section 491(4)
excluded indexed security (in Chapter 8 of Part 4)section 433(1)
the exemption condition (in Chapter 6 of Part 6)section 713(3)
farmers (in Chapter 8 of Part 2)section 111(3)
farmingsection 876
film (in Chapter 9 of Part 2)section 131
final insurance year (in Chapter 9 of Part 4)section 499(4), (5)
the final tax year (in Chapter 6 of Part 5)section 653(3)
firmsections 847(1) and 863
firm (for all purposes in the Income Tax Acts)section 863(2)(a)
for accounting purposessection 832(1) of ICTA
foreign capital redemption policy (in Chapter 9 of Part 4)section 476(3)
foreign estate (in Chapter 6 of Part 5)section 651(1)
foreign holdings (in Chapter 13 of Part 4)section 571(1)
foreign institution (in Chapter 9 of Part 4)section 468(5)
foreign policy of life insurance (in Chapter 9 of Part 4)section 476(3)
forestrysection 876(3)
foster-care receipts (in Chapter 2 of Part 7)section 805
foster-care relief (in Chapter 2 of Part 7)section 803(1)
FOTRA security (in Chapter 6 of Part 6)section 713(2)
friendly society (in Chapter 9 of Part 4)section 545(1)
future (in Chapter 12 of Part 4)section 558(1)
generally accepted accounting practicesection 832(1) of ICTA and section 50 of FA 2004
generating income from land (in Chapter 3 of Part 3)sections 266 and 267
gilt-edged securitysection 153(1)
grossing upsection 877
group life policy (in Chapter 9 of Part 4)section 480(2)
herd (in Chapter 8 of Part 2)section 112(1)
herd basis election (in Chapter 8 of Part 2)section 111(1)
herd basis rules (in Chapter 8 of Part 2)section 111(2)
higher ratesection 832(1) of ICTA
houseboatsection 878(1)
incomesection 878(1)
income arising under a settlement (in Chapter 5 of Part 5)section 648
income arising under the settlement (in relation to a settlor) (in Chapter 5 of Part 5)section 644(3)(b)
income period (in Chapter 2 of Part 7)section 805(2) and (3)
individual’s limit (in Chapter 1 of Part 7)section 789
individual’s limit (in Chapter 2 of Part 7)section 808
the Inland Revenuesection 878(1)
institutional arrangement (in Chapter 4 of Part 6)section 704(3)
insurance company (in Chapter 9 of Part 4)section 545(1)
insurance year (in Chapter 9 of Part 4)section 499(1), (3), (5)
interestsection 832(1) of ICTA
interest (in Chapter 4 of Part 6)section 702(4)
international accounting standardssection 832(1) of ICTA and section 50(2) of FA 2004
investment plan regulations (in Chapter 3 of Part 6)section 694(2)
investment trustsection 842 of ICTA
keeping a production herd (in Chapter 8 of Part 2)section 111(4)
know-how (in Chapter 14 of Part 2)section 192(1), (2)
know-how (in Chapter 2 of Part 5)section 583(4), (5)
lease (in Part 3)section 364(1)
letting (in Chapter 1 of Part 7)section 802
life annuity (in Chapter 9 of Part 4)section 473(2)
limited interest (for the purposes of Chapter 6 of Part 5)section 650(2)
linked savings arrangement (in Chapter 4 of Part 6)section 703(2)
local authoritysection 842A of ICTA
lower ratesection 832(1) of ICTA
market gardeningsection 876(5)
market value (in Chapter 8 of Part 4)section 460(3)
market value (in Chapter 9 of Part 4)section 545(1)
mature (in relation to female animals) (for the purposes of Chapter 8 of Part 2)section 113(5)
members of a company (for all purposes in the Tax Acts)section 863(2)(d)
members of a firm (for all purposes in the Income Tax Acts)section 863(2)(b)
mineral lease or agreement (in Chapter 8 of Part 3)section 341(1)
mineral royalties (in Chapter 8 of Part 3)sections 341(2), 342, 343
mortgage (in the application of the Act to Scotland)section 879(1)
national savings arrangement (in Chapter 4 of Part 6)section 704(2)
non-charitable trust (in Chapter 9 of Part 4)section 545(1)
non-trade business (in Chapter 3 of Part 5)section 609(1)
non-UK resident (and references to a non-UK resident or a non-UK resident person)section 878(1)
normal self-assessment filing datesection 878(1)
noticesection 832(1) of ICTA
oil and gas exploration and appraisalsection 837B of ICTA
option (in Chapter 12 of Part 4)section 558(2)
ordinary share capitalsection 832(1) of ICTA
original master version (in Chapter 9 of Part 2)section 132(1), (2)
overlap period (in Chapter 15 of Part 2)section 204
overlap profit (in Chapter 15 of Part 2)section 204
overseas life assurance business (in Chapter 9 of Part 4)section 476(3)
overseas property businessChapter 2 of Part 3
overseas property income (in Chapter 11 of Part 3)section 358
part surrender or assignment event (in Chapter 9 of Part 4)section 491(4)
patent rights (in Chapter 2 of Part 5)section 587(4)
period of accountsection 832(1) of ICTA
permanent establishmentsection 832(1) of ICTA and section 148 of FA 2003
person to whom the remittance basis appliessection 878(2)
person creating trusts (for the purposes of Chapter 9 of Part 4)section 465(6)
personal portfolio bond (in Chapter 9 of Part 4)sections 516, 517
personal portfolio bond event (in Chapter 9 of Part 4)section 491(4)
personal representativessection 878(1)
plan managers (in Chapter 3 of Part 6)section 696(2)
policy (in Chapter 9 of Part 4)section 545(1)
post-cessation receipt (in Part 2)sections 246 and 247
post-cessation receipt (in Chapter 10 of Part 3)sections 353 and 354
preliminary expenditure (in Chapter 9 of Part 2)section 130(6)
premises (in Part 3)section 364(2)
premium (in Chapter 4 of Part 3)section 307(1), (3)
premium (in Chapter 9 of Part 4)section 545(2)
the price (in relation to the exchange of know-how) (in Chapter 14 of Part 2)section 192(6)
the price (in relation to the exchange of property) (in Chapter 2 of Part 5)section 605(4)
proceeds of sale (in relation to the exchange of know-how) (in Chapter 14 of Part 2)section 192(6)
proceeds of sale (in relation to the exchange of property) (in Chapter 2 of Part 5)section 605(4)
production expenditure (in Chapter 9 of Part 2)section 130(2)
production herd (in Chapter 8 of Part 2)section 112(1), (2)
production herd (of the same class) (for the purposes of Chapter 8 of Part 2)section 113(2)
profits from a trade, profession or vocation (for the purposes of Chapter 16 of Part 2)section 221(4), (5)
profits or gainssection 833(1) of ICTA
any prohibitive rule (in Chapter 9 of Part 2)section 130(7)
property businesssection 263(6)
property comprised in a settlement (in relation to a settlor) (in Chapter 5 of Part 5)section 644(3)(a)
property or rights held on trust or on trusts (in the application of the Act to Scotland)section 879(2)
provider (in relation to a bank arrangement) (in Chapter 4 of Part 6)section 704(4)(b)
provider (in relation to a building society arrangement) (in Chapter 4 of Part 6)section 704(5)(b)
provider (in relation to a European authorised institution arrangement) (in Chapter 4 of Part 6)section 704(6)
provides foster care (and related expressions) (in Chapter 2 of Part 7)section 806
public body (in Chapter 2 of Part 5)section 603(2)
purchased life annuity (in Chapter 7 of Part 4)section 423
qualifying distributionsection 832(1) of ICTA
qualifying policysection 832(1) of ICTA
qualifying trade, profession or vocation (in Chapter 16 of Part 2)section 221(2)
the rate applicable to trustssection 832(1) of ICTA
receipt period (of a receipt) (for the purposes of Chapter 4 of Part 3)sections 288(6), 296(3)
receipts and expenses (in the context of the calculation of the profits of a trade, profession or vocation or of a property business) (in the Income Tax Acts)section 27 (including as applied by section 272)
recognised futures exchangesection 558(3)
recognised stock exchangesection 841(1) of ICTA
reduction under section 288 by reference to a taxed receipt (in Chapter 4 of Part 3)section 290(6)
reduction under section 37(2) or (3) of ICTA by reference to an amount chargeable on the superior interest (in Chapter 4 of Part 3)section 297(2)
registered pension schemesection 832(1) of ICTA and section 150(2) of FA 2004
related (in relation to a policy) (in Chapter 9 of Part 4)section 491(6)
related transactions (in Chapter 12 of Part 4)section 566
relevant allowance (in Chapter 1 of Part 7)section 802
relevant balancing charge (in Chapter 1 of Part 7)section 802
relevant foreign incomesection 830
relevant period (in Chapter 9 of Part 2)section 133
the relevant profits (in Chapter 16 of Part 2)section 221(1), (4), (5)
relevant telecommunication right (in Chapter 10 of Part 2)section 146
rent receivable for a UK electric-line wayleave (in Chapter 9 of Part 3)section 345
rent receivable in connection with a UK section 12(4) concern (in Chapter 8 of Part 3)section 336
rent (in Chapter 8 of Part 3)section 336(3)
rent (in Chapter 9 of Part 3)section 345(3)
rent-a-room receipts (in Chapter 1 of Part 7)section 786
rent-a-room relief (in Chapter 1 of Part 7)section 784
residence (in Chapter 1 of Part 7)section 787
the residuary income of the estate (for the purposes of Chapter 6 of Part 5)section 666(1)
retail prices indexsection 833(2) of ICTA
return from one or more disposals (in Chapter 12 of Part 4)section 561(1)
reversion (in the application of Chapter 4 of Part 3 to Scotland)section 307(3)
sale of an animal (for the purposes of Chapter 8 of Part 2)section 113(3)
sale of know-how (for purposes of Chapter 14 of Part 2)sections 192(5)
sale of property (in Chapter 2 of Part 5)sections 605(1), 606(1)
sale or transfer of trading stock (in Chapter 12 of Part 2)section 174(3)
sale proceeds of an animal (for the purposes of Chapter 8 of Part 2)section 113(4)
Schedule A businesssection 832(1) of ICTA
settlement (in Chapter 5 of Part 5)section 620
settlor (in Chapter 5 of Part 5)section 620(1)
settlor (for the purposes of Chapter 9 of Part 4)section 465(6)
share (in Chapter 8 of Part 4)section 460(1)
share of residuary income of estate (for the purposes of Chapter 6 of Part 5)section 667
short-term lease (in Chapter 4 of Part 3)section 276(6)
starting ratesection 832(1) of ICTA
statutory insolvency arrangement (in Part 2)section 259
stock dividend income (in Chapter 5 of Part 4)section 409(2)
strip (in Chapter 8 of Part 4)section 444
substantial part of a herd (for purposes of Chapter 8 of Part 2)section 113(6)
surrender (in the application of the Act to Scotland)section 879(1)
tax advantage (in Chapter 8 of Part 4)section 460(2)
tax yearsection 878(1)
the tax year 2005-06 etc.section 878(1)
taxed lease (in Chapter 4 of Part 3)section 287(4)
taxed receipt (in Chapter 4 of Part 3)section 287(4)
taxpayer (in Chapter 16 of Part 2)section 221(1)
total incomesection 835(1) of ICTA
total foster-care receipts (in Chapter 2 of Part 7)section 807
total rent-a-room amount (in Chapter 1 of Part 7)section 788
tradesection 832(1) of ICTA
trading stock (in relation to a trade) (in Chapter 12 of Part 2)section 174
transfer of work in progress (in Chapter 12 of Part 2)section 183(2)
trusts an individual created (for the purposes of Chapter 9 of Part 4)section 465(6)
UK estate (in Chapter 6 of Part 5)section 651(1)
UK property businessChapter 2 of Part 3
UK resident (and references to a UK resident or a UK resident person)section 878(1)
Ulster Savings Certificatessection 693(7)
unit holdersection 832(1) of ICTA
unit trust schemesection 832(1) of ICTA
United Kingdomsection 830(1) of ICTA
unreduced amount (of a taxed receipt) (in Chapter 4 of Part 3)sections 290(2) to (4), 296(4) to (6)
unused amount (of a taxed receipt) (for the purposes of Chapter 4 of Part 3)section 290(1), (5)
venture capital trustsection 842AA(1) of ICTA
within the charge to taxsection 832(1) of ICTA
woodlandssection 876(4)
work in progress (in Chapter 12 of Part 2)section 183(1)

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