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Finance Act 2007
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- 2007 c. 11
- SCHEDULE 24
- Part 5
- Interpretation
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Changes over time for: Cross Heading: Interpretation
Changes to legislation:
Finance Act 2007, Cross Heading: Interpretation is up to date with all changes known to be in force on or before 25 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 993 modified by 2016 c. 24 s. 118(2)
- Sch. 24 para. 12(5)(za) inserted by 2015 c. 11 Sch. 20 para. 6(a)
- Sch. 24 para. 21A(A1) inserted by 2015 c. 11 Sch. 20 para. 7(2)
- Sch. 24 para. 4A(A1)(1) substituted for Sch. 24 para. 4A(1) by 2015 c. 11 Sch. 20 para. 3(2)
InterpretationU.K.
22U.K.Paragraphs 23 to [F127] apply for the construction of this Schedule.
Textual Amendments
F1Word in Sch. 24 para. 22 substituted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 18; S.I. 2009/571, art. 2
Commencement Information
I1Sch. 24 para. 22 in force at 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)
23U.K.HMRC means Her Majesty's Revenue and Customs.
Commencement Information
I2Sch. 24 para. 23 in force at 1.4.2008 for certain purposes, 1.7.2008 for certain purposes, 1.1.2009 for certain purposes, and 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)
[F223AU.K.“Tax”, without more, includes duty.]
Textual Amendments
F2Sch. 24 para. 23A inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 19; S.I. 2009/571, art. 2
[F323BU.K.“UK” means the United Kingdom, including the territorial sea of the United Kingdom.]
Textual Amendments
F3Sch. 24 para. 23B inserted (6.4.2011) by Finance Act 2010 (c. 13), s. 35(2), Sch. 10 para. 6; S.I. 2011/975, art. 2(1) (with art. 3)
24U.K.An expression used in relation to income tax has the same meaning as in the Income Tax Acts.
Commencement Information
I3Sch. 24 para. 24 in force at 1.4.2008 for certain purposes, 1.7.2008 for certain purposes, 1.1.2009 for certain purposes, and 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)
25U.K.An expression used in relation to corporation tax has the same meaning as in the Corporation Tax Acts.
Commencement Information
I4Sch. 24 para. 25 in force at 1.4.2008 for certain purposes, 1.7.2008 for certain purposes, 1.1.2009 for certain purposes, and 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)
26U.K.An expression used in relation to capital gains tax has the same meaning as in the enactments relating to that tax.
Commencement Information
I5Sch. 24 para. 26 in force at 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)
27U.K.An expression used in relation to VAT has the same meaning as in VATA 1994.
Commencement Information
I6Sch. 24 para. 27 in force at 1.4.2008 for certain purposes, 1.7.2008 for certain purposes, 1.1.2009 for certain purposes, and 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)
28U.K.In this Schedule—
(a)a reference to corporation tax includes a reference to tax or duty which by virtue of an enactment is assessable or chargeable as if it were corporation tax,
(b)a reference to tax includes a reference to construction industry deductions under Chapter 3 of Part 3 of FA 2004,
(c)“direct tax” means—
(i)income tax,
(ii)capital gains tax, F4...
(iii)corporation tax, [F5and
(iv)petroleum revenue tax,]
(d)a reference to understating liability to VAT includes a reference to overstating entitlement to a VAT credit,
F6(da). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(e)a reference to a loss includes a reference to a charge, expense, deficit and any other amount which may be available for, or relied on to claim, a deduction or relief,
(f)a reference to repayment of tax includes a reference to allowing a credit [F7against tax or to a payment of a corporation tax credit],
[F8(fa)“corporation tax credit” means—
(i)an R&D tax credit under [F9Chapter 2 or 7 of Part 13 of CTA 2009],
[F10(ia)an R&D expenditure credit under Chapter 6A of Part 3 of CTA 2009,]
(ii)a land remediation tax credit or life assurance company tax credit under [F11Chapter 3 or 4 respectively of Part 14 of CTA 2009],
F12(iii). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(iv)a film tax credit under [F13Chapter 3 of Part 15 of CTA 2009], F14...
[F15(iva)a television tax credit under Chapter 3 of Part 15A of that Act,
(ivb)a video game tax credit under Chapter 3 of Part 15B of that Act, F16...]
[F17(ivc)a theatre tax credit under section 1217K of that Act, F18...]
[F19(ivd)an orchestra tax credit under Chapter 3 of Part 15D of that Act, F20...]
[F21(ive)a museums and galleries exhibition tax credit under Chapter 3 of Part 15E of that Act, or]
(v)a first-year tax credit under Schedule A1 to CAA 2001,]
(g)“tax period” means a tax year, accounting period or other period in respect of which tax is charged,
(h)a reference to giving a document to HMRC includes a reference to communicating information to HMRC in any form and by any method (whether by post, fax, email, telephone or otherwise),
(i)a reference to giving a document to HMRC includes a reference to making a statement or declaration in a document,
(j)a reference to making a return or doing anything in relation to a return includes a reference to amending a return or doing anything in relation to an amended return, and
(k)a reference to action includes a reference to omission.
Textual Amendments
F4Word in Sch. 24 para. 28(c) omitted (1.4.2009) by virtue of Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 20(2); S.I. 2009/571, art. 2
F5Sch. 24 para. 28(c)(iv) and preceding word inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 20(2); S.I. 2009/571, art. 2
F6Sch. 24 para. 28(da) omitted (21.7.2009) by virtue of Finance Act 2009 (c. 10), Sch. 57 para. 8
F7Words in Sch. 24 para. 28(f) inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 20(4); S.I. 2009/571, art. 2
F8Sch. 24 para. 28(fa) inserted (1.4.2009) by Finance Act 2008 (c. 9), s. 122(2), Sch. 40 para. 20(5); S.I. 2009/571, art. 2
F9Words in Sch. 24 para. 28(fa)(i) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 727(a) (with Sch. 2 Pts. 1, 2)
F10Sch. 24 para. 28(fa)(ia) inserted (with effect in accordance with Sch. 15 para. 27 of the amending Act) by Finance Act 2013 (c. 29), Sch. 15 para. 8
F11Words in Sch. 24 para. 28(fa)(ii) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 727(b) (with Sch. 2 Pts. 1, 2)
F12Sch. 24 para. 28(fa)(iii) omitted (with effect in accordance with s. 1329(1) of the amending Act) by virtue of Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 727(c) (with Sch. 2 Pts. 1, 2)
F13Words in Sch. 24 para. 28(fa)(iv) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 727(d) (with Sch. 2 Pts. 1, 2)
F14Word in Sch. 24 para. 28(fa)(iv) omitted (with effect in accordance with Sch. 18 para. 23 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 18 paras. 7, 22; S.I. 2013/1817, art. 2(2); S.I. 2014/1962, art. 2(3)
F15Sch. 24 para. 28(fa)(iva)(ivb) inserted (with effect in accordance with Sch. 18 para. 23 of the amending Act) by Finance Act 2013 (c. 29), Sch. 18 paras. 7, 22; S.I. 2013/1817, art. 2(2); S.I. 2014/1962, art. 2(3)
F16Word in Sch. 24 para. 28(fa)(ivb) omitted (with effect in accordance with Sch. 4 para. 17 of the amending Act) by virtue of Finance Act 2014 (c. 26), Sch. 4 paras. 8, 16; S.I. 2014/2228, art. 2
F17Sch. 24 para. 28(fa)(ivc) inserted (with effect in accordance with Sch. 4 para. 17 of the amending Act) by Finance Act 2014 (c. 26), Sch. 4 paras. 8, 16; S.I. 2014/2228, art. 2
F18Word in Sch. 24 para. 28(fa)(ivc) omitted (with effect in accordance with Sch. 8 para. 17(1)(a) of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 8 para. 8
F19Sch. 24 para. 28(fa)(ivd) inserted (with effect in accordance with Sch. 8 para. 17(1)(a) of the amending Act) by Finance Act 2016 (c. 24), Sch. 8 para. 8
F20Word in Sch. 24 para. 28(fa)(ivd) omitted (for specified purposes and with effect in accordance with Sch. 6 paras. 20, 21(1)(b) of the amending Act) by virtue of Finance (No. 2) Act 2017 (c. 32), Sch. 6 para. 8
F21Sch. 24 para. 28(fa)(ive) inserted (for specified purposes and with effect in accordance with Sch. 6 paras. 20, 21(1)(b) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 6 para. 8
Commencement Information
I7Sch. 24 para. 28 in force at 1.4.2008 for certain purposes, 1.7.2008 for certain purposes, 1.1.2009 for certain purposes, and 1.4.2009 in so far as not already in force by S.I. 2008/568, art. 2 (with art. 3)
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