Paragraph 28 I1

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 24 para. 4(2)(c) word substituted by Finance Act 2015 Sch. 20 para. 2(3)(c)
Sch. 24 para. 21A(2) substituted by Finance Act 2015 Sch. 20 para. 7(3)
Sch. 24 para. 21A(7) substituted by Finance Act 2015 Sch. 20 para. 7(4)
Sch. 24 para. 21A(A1) inserted by Finance Act 2015 Sch. 20 para. 7(2)
Sch. 24 para. 4(1A) inserted by Finance Act 2015 Sch. 20 para. 2(2)
Sch. 24 para. 4(2)(a) word substituted by Finance Act 2015 Sch. 20 para. 2(3)(a)
Sch. 24 para. 4(2)(b) word substituted by Finance Act 2015 Sch. 20 para. 2(3)(b)
Sch. 24 para. 4(5) word substituted by Finance Act 2015 Sch. 20 para. 2(4)
Sch. 24 para. 4A(7) words substituted by Finance Act 2015 Sch. 20 para. 3(8)
Sch. 24 para. 4A(A1)(1) substituted for Sch. 24 para. 4A(1) by Finance Act 2015 Sch. 20 para. 3(2)
Sch. 24 para. 10(2) words inserted by Finance Act 2015 Sch. 20 para. 5
Sch. 24 para. 12(5)(a) word substituted by Finance Act 2015 Sch. 20 para. 6(b)
Sch. 24 para. 12(5)(za) inserted by Finance Act 2015 Sch. 20 para. 6(a)
Sch. 24 para. 28(fa)(iv)-(ivb) omitted by Finance Act 2024 Sch. 2 para. 11

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, F1...

(iii)

corporation tax, F2and

(iv)

petroleum revenue tax,

(d)

a reference to understating liability to VAT includes a reference to overstating entitlement to a VAT credit,

F3(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 F4against tax or to a payment of a corporation tax credit,

F5(fa)

“corporation tax credit” means—

(i)

an R&D tax credit under F6Chapter 2 or 7 of Part 13 of CTA 2009,

(F7ia)

an R&D expenditure credit under F8Chapter 1A of Part 13 of CTA 2009,

(ii)

a land remediation tax credit or life assurance company tax credit under F9Chapter 3 or 4 respectively of Part 14 of CTA 2009,

F10(iii)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(F11iiia)

an audiovisual expenditure credit or video game expenditure credit under Chapter 3 of Part 14A of CTA 2009 (expenditure credit in respect of films, television programmes and video games),

(iv)

a film tax credit under F12Chapter 3 of Part 15 of CTA 2009, F13...

(F14iva)

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, F15...

(F16ivc)

a theatre tax credit under section 1217K of that Act, F17...

(F18ivd)

an orchestra tax credit under Chapter 3 of Part 15D of that Act, F19...

(F20ive)

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.

Annotations

Textual amendments

F1: Word 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
F2: Sch. 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
F3: Sch. 24 para. 28(da) omitted (21.7.2009) by virtue of Finance Act 2009 (c. 10), Sch. 57 para. 8
F4: Words 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
F5: Sch. 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
F6: Words 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)
F7: Sch. 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
F8: Words in Sch. 24 para. 28(fa)(ia) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 11, 16; S.I. 2024/286, reg. 2
F9: Words 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)
F10: Sch. 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)
F11: Sch. 24 para. 28(fa)(iiia) inserted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 2 para. 4 (with Sch. 2 paras. 16(1), 17-25)
F12: Words 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)
F13: Word 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)
F14: Sch. 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)
F15: Word 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
F16: Sch. 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
F17: Word 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
F18: Sch. 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
F19: Word 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
F20: Sch. 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

I1: Sch. 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)

Notes on Schedule 24

Modifications

C1: Sch. 24 applied (N.I.) (1.4.2008) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2000 (S.R. 2000/121), regs. 7(2A)(b), 26(4) (as amended by S.R. 2008/129, regs. 1, 3(a), 4)
C2: Sch. 24 applied (6.4.2008) by The Social Security (Contributions) Regulations 2001 (S.I. 2001/1004), reg. 81(1)(1A), Sch. 4 paras. 21A(8), 21D(9), 21F(12), 22(7), 31(8) (as amended by S.I. 2008/636, reg. 7; S.I. 2010/721, reg. 4; S.I. 2012/821, reg. 11)
C3: Sch. 24 applied (E.W.) (6.4.2009) by The Education (Student Loans) (Repayment) Regulations 2009 (S.I. 2009/470), regs. 1(1), 13(3)(b), 40(4), 59(8)(b) (with reg. 1(4)(6))
C4: Sch. 24 applied (N.I.) (6.4.2009) by The Education (Student Loans) (Repayment) Regulations (Northern Ireland) 2009 (S.R. 2009/128), regs. 1(1), 9(3)(b), 35(4), 54(8)(b)
C5: Sch. 24 modified (8.4.2010) by Finance Act 2010 (c. 13), Sch. 1 para. 37
C6: Sch. 24 applied (with modifications) (19.4.2013) by The Small Charitable Donations Regulations 2013 (S.I. 2013/938), regs. 1, 15
C7: Sch. 24 excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 13(a)
C8: Sch. 24 applied by 1993 c. 34, Sch. 20A para. 9A(6) (as inserted (19.12.2014) by The Lloyd's Underwriters (Conversion of Partnerships to Underwriting through Successor Companies) (Tax) Regulations 2014 (S.I. 2014/3133), regs. 1, 5(4))
C9: Sch. 24 applied (with modifications) by 1992 c. 4, s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 3)
C10: Sch. 24 applied (with modifications) by 1992 c.7 (N.I.) s. 11A(1)(3) (as inserted (with effect in accordance with Sch. 1 para. 35 of the amending Act) by National Insurance Contributions Act 2015 (c. 5), Sch. 1 para. 12)
C11: Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 85(4)
C12: Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 50(3)
C13: Sch. 24 applied (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 24(3)
C14: Sch. 24 applied (with modifications) (1.5.2023) by The Value Added Tax (Margin Schemes and Removal or Export of Goods: VAT-related Payments) Order 2023 (S.I. 2023/68), arts. 1(1), 14 (with art. 1(2))
C15: Sch. 24 applied (14.9.2023) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) (No. 2) Regulations 2023 (S.I. 2023/912), regs. 1(2), 40(2) (with reg. 1(3))
C16: Sch. 24 applied (24.4.2025 for the tax year 2023-24 and subsequent tax years) by The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2025 (S.I. 2025/419), regs. 1(2)(3), 15(3)