Taxes Consolidation Act 1997 section 835A

Interpretation

Section 835A defines the key terms used throughout Part 35A, which deals with transfer pricing.

• "Arrangement" is defined very broadly to include any transaction, agreement, scheme, plan, understanding or undertaking — whether or not legally enforceable — and any series or combination of these.
• "Relevant activities" are the activities of a supplier or acquirer in the course of which, or with respect to which, the arrangement is made, including activities involving the disposal and acquisition of assets.
• "Relevant person" means a person within the charge to tax whose computation of profits, gains or losses takes account (or would take account) of the results of the arrangement.
• "Tax" for the purposes of Part 35A means income tax, corporation tax or capital gains tax, and references to losses chargeable to tax mean losses from an arrangement or relevant activities where a corresponding profit or gain would be chargeable.