Explanatory note

(This note is not part of the Regulations)

Section 17(3)(da) of the Finance Act 2001 renders exempt for aggregates levy purposes aggregate removed from the ground^f1 along the line and in the course of improving, maintaining or constructing railways, tramways or monorails (railways aggregate).

A person commercially exploiting only exempt aggregate is exempt from the requirement of registration by HM Revenue and Customs for aggregates levy^f2. These Regulations incorporate railways aggregate into the latter exemption^f3.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

Annotations

Footnotes

f1: The removal must not be for the purpose of extracting the aggregate, see section 17(3)(da) of the Finance Act 2001 (inserted as mentioned in footnote (d)).
f2: Regulations 3(1) and 3(2) of S.I. 2001/4027, as substituted by S.I. 2003/465.
f3: By adding such commercial exploitation to the list in regulation 3(2) of S.I. 2001/4027, with effect from 16th August 2007.