{
  "url": "https://openlegislation.uk/finance-act-2003/section-122",
  "json_url": "https://openlegislation.uk/finance-act-2003/section-122.json",
  "legislation": "ukpga/2003/14",
  "legislation_title": "Finance Act 2003",
  "legislation_url": "https://openlegislation.uk/finance-act-2003",
  "path": "section/122",
  "kind": "section",
  "number": "122",
  "heading": "Index of defined expressions",
  "text": "In this Part the expressions listed below are defined or otherwise explained by the provisions indicated—\nacquisition relief\nSchedule 7, paragraph 8(1)\n. . .\n. . .\nbare trust\nSchedule 16, paragraph 1(2)\nthe Board (in relation to the Inland Revenue)\nsection 42(3)\nchargeable consideration\nsection 50 and Schedule 4\nchargeable interest\nsection 48(1)\nchargeable transaction\nsection 49\ncharities relief\nSchedule 8, paragraph 1(1)\nclosure notice\nSchedule 10, paragraph 23(1) (in relation to a land transaction return); ...\nco-ownership scheme seeding relief\nSchedule 7A, paragraph 10(1)\nco-ownership authorised contractual scheme\nsection 102A\nco-ownership contractual scheme\nsection 102A\ncompany\nsection 100 (except as otherwise expressly provided)\n. . .\n. . .\ncontingent (in relation to consideration)\nsection 51(3)\ndelivery (in relation to a land transaction return)\nSchedule 10, paragraph 2(2)\ndiscovery assessment\nSchedule 10, paragraph 28(1)\neffective date (in relation to a land transaction)\nsection 119\nemployee\nsection 121\nexempt interest\nsection 48(2) to (5)\nfiling date (in relation to a land transaction return)\nSchedule 10, paragraph 2(1)\nimplementation date\nSchedule 19, paragraph 2(2)\nthe Inland Revenue\nsection 113\njointly entitled\nsection 121\nland\nsection 121\nland transaction\nsection 43(1)\nland transaction return\nsection 76(1)\nlease (and related expressions)\nSchedule 17A\nlinked transactions\nsection 108\nmain subject-matter (in relation to a land transaction)\nsection 43(6)\nmajor interest (in relation to land)\nsection 117\nmarket value\nsection 118\nnon-resident transaction\nSchedule 9A, paragraph 2\nnotice of enquiry\nSchedule 10, paragraph 12(1) (in relation to a land transaction return); ...\nnotifiable (in relation to a land transaction)\nsection 77 (see too sections 71A(7) and 72A(7)) and paragraph 30 of Schedule 15\noperator (in relation to a co-ownership authorised contractual scheme)\nsection 102A\nPAIF seeding relief\nSchedule 7A, paragraph 1(1)\npartnership (and related expressions)\nSchedule 15, paragraphs 1 to 4\npurchaser\nsection 43(4)\n. . .\n. . .\nreconstruction relief\nSchedule 7, paragraph 7(1)\n. . .\n. . .\nReserved Investor Fund (Contractual Scheme)\nsection 102A\nresidential property\nsection 116\nRevenue certificate\nsection 79(3)(a)\nRevenue determination\nSchedule 10, paragraph 25(1)\nself-assessment\nsection 76(3)(a)\n. . .\n. . .\nsettlement\nSchedule 16, paragraph 1(1) (except as otherwise expressly provided)\n. . .\n. . .\nstatutory provision\nsection 121\nsubject-matter (in relation to a land transaction)\nsection 43(6)\nsubstantial performance (in relation to a contract)\nsection 44(5) to (7)\n. . .\n. . .\ntax\nsection 121\ntribunal\nsection 121\nuncertain (in relation to consideration)\nsection 51(3)\nunit holder\nsection 101(4)\nunit trust scheme\nsection 101(4)\nvendor\nsection 43(4) (see too section 45A(9) and paragraphs 8, 10 and 11 of Schedule 2A)",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 23(a) (with s. 29(5)(6)); S.I. 2015/637, art. 2"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 94(5) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 30 para. 5(2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 122 substituted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 57(4)(a) (with reg. 63)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 122 inserted (with effect in accordance with Sch. 16 para. 15 of the amending Act) by Finance Act 2016 (c. 24), Sch. 16 para. 11"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 122 inserted (19.3.2025) by The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 57(4)(b) (with reg. 63)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 23(b) (with s. 29(5)(6)); S.I. 2015/637, art. 2"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 122 substituted (with effect in accordance with Sch. 39 para. 26 of the amending Act) by Finance Act 2004 (c. 12), Sch. 39 para. 22(7) (which amending provision re-enacts, subject to certain changes, a corresponding amendment made by the now revoked Stamp Duty and Stamp Duty Land Tax (Variation of the Finance Act 2003) (No. 2) Regulations 2003 (S.I. 2003/2816), see Sch. 39 para. 14)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in s. 122 inserted (with effect in accordance with Sch. 16 para. 6 of the amending Act) by Finance Act 2021 (c. 26), Sch. 16 para. 4"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 94(5) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 30 para. 5(3)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in s. 122 inserted (with effect in accordance with Sch. 8 para. 7 of the amending Act) by Finance Act 2005 (c. 7), Sch. 8 para. 6"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in s. 122 inserted (with effect in accordance with s. 94(5) of the amending Act) by Finance Act 2008 (c. 9), Sch. 30 para. 5(4)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 2(2) of the amending Act) by virtue of Stamp Duty Land Tax Act 2015 (c. 1), Sch. para. 12 (with s. 2(3)-(6))"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 9(12) of the amending Act) by virtue of Finance (No. 2) Act 2024 (c. 12), s. 9(11)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Words in s. 122 inserted (with effect in accordance with Sch. 39 para. 26 of the amending Act) by Finance Act 2004 (c. 12), Sch. 39 para. 25(4) (which amending provision re-enacts, subject to certain changes, a corresponding amendment made by the now revoked Stamp Duty and Stamp Duty Land Tax (Variation of the Finance Act 2003) (No. 2) Regulations 2003 (S.I. 2003/2816), see Sch. 39 para. 14)"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 94(5) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 30 para. 5(5)"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "Words in s. 122 inserted (with effect in accordance with Sch. 40 para. 8 of the amending Act) by Finance Act 2013 (c. 29), Sch. 40 para. 7"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 23(c) (with s. 29(5)(6)); S.I. 2015/637, art. 2"
    },
    {
      "type": "F",
      "label": "F18",
      "text": "Words in s. 122 omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 23(d) (with s. 29(5)(6)); S.I. 2015/637, art. 2"
    },
    {
      "type": "F",
      "label": "F19",
      "text": "Words in s. 122 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. 372"
    },
    {
      "type": "F",
      "label": "F20",
      "text": "Words in s. 122 inserted (with effect in accordance with Sch. 39 para. 13(2) of the amending Act) by Finance Act 2004 (c. 12), Sch. 39 para. 5(6)"
    },
    {
      "type": "F",
      "label": "F21",
      "text": "Words in s. 122 substituted (with effect in accordance with Sch. 39 para. 11 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 39 para. 8"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Pt. 4 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/14/section/122",
    "retrieved_at": "2026-10-29T09:18:27.996599+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}