{
  "url": "https://openlegislation.uk/finance-act-2004/section-318",
  "json_url": "https://openlegislation.uk/finance-act-2004/section-318.json",
  "legislation": "ukpga/2004/12",
  "legislation_title": "Finance Act 2004",
  "legislation_url": "https://openlegislation.uk/finance-act-2004",
  "path": "section/318",
  "kind": "section",
  "number": "318",
  "heading": "Interpretation of Part 7",
  "text": "(1) In this Part—\n“advantage”, in relation to any tax, means—\nrelief or increased relief from, or repayment or increased repayment of, that tax, or the avoidance or reduction of a charge to that tax or an assessment to that tax or the avoidance of a possible assessment to that tax,\nthe deferral of any payment of tax or the advancement of any repayment of tax, or\nthe avoidance of any obligation to deduct or account for any tax;\n“arrangements” includes any scheme, transaction or series of transactions;\n“authorised officer” means an officer of Revenue and Customs authorised by His Majesty’s Revenue and Customs for the purposes of this Part or, as the case may be, section 100 of TMA 1970;\n“company” has the meaning given by section 1121 of the Corporation Tax Act 2010;\n“corporation tax” includes any amount which, by virtue of any of the provisions mentioned in paragraph 1 of Schedule 18 to the Finance Act 1998 (c. 36) (company tax returns, assessments and related matters) is assessable and chargeable as if it were corporation tax;\n“HMRC” means the Commissioners for Her Majesty's Revenue and Customs;\n“introducer”, in relation to a notifiable proposal, has the meaning given by section 307;\n“make a firm approach” has the meaning given by section 307(4A);\n“make a marketing contact” has the meaning given by section 307(4B);\n“notifiable arrangements” has the meaning given by section 306(1);\n“notifiable proposal” has the meaning given by section 306(2);\n“prescribed”, except in section 306, means prescribed by regulations made by the Board;\n“promoter”, in relation to notifiable arrangements or a notifiable proposal, has the meaning given by section 307;\n“reference number” means a reference number allocated under section 311;\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n“tax” means—\nincome tax,\ncapital gains tax,\ncorporation tax,\npetroleum revenue tax,\napprenticeship levy,\ninheritance tax,\nstamp duty land tax, ...\nstamp duty reserve tax, or\nannual tax on enveloped dwellings.\n“Taxes Acts” has the same meaning as in TMA 1970 (see section 118(1) of that Act);\n“trade” includes every venture in the nature of trade.\n“tribunal” means the First-tier tribunal, or where determined by or under Tribunal Procedure Rules, the Upper Tribunal.\n“working day” means a day which is not a Saturday or a Sunday, Christmas Day, Good Friday or a bank holiday under the Banking and Financial Dealings Act 1971 in any part of the United Kingdom.\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 318 inserted (18.3.2026) by Finance Act 2026 (c. 11), s. 216(2)(c) (with s. 219)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 318(1) inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 302(2)(a) (with Sch. 9 paras. 1-9, 22)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 318(1) inserted (19.7.2007) by Finance Act 2007 (c. 11), s. 108(8)(a) (with s. 108(10))"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 318(1) inserted (1.1.2011) by Finance Act 2010 (c. 13), Sch. 17 para. 5; S.I. 2010/3019, art. 2"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 318(1) substituted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by Finance Act 2021 (c. 26), Sch. 31 paras. 18, 44"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 318(1) omitted (1.4.2009) by virtue of The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 434(2)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 318(1) inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 104(1) (with s. 117)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in s. 318(1) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 35 para. 2(a)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 318(1) inserted (17.7.2013) by Finance Act 2013 (c. 29), Sch. 35 para. 2(b)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in s. 318(1) inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 302(2)(b) (with Sch. 9 paras. 1-9, 22)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in s. 318(1) 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. 434(3)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in s. 318(1) inserted (17.7.2014) by Finance Act 2014 (c. 26), s. 284(4)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "S. 318(2) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 302(3), Sch. 10 Pt. 13 (with Sch. 9 paras. 1-9, 22)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2004/12/section/318",
    "retrieved_at": "2026-10-28T17:08:09.921968+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."
  }
}