Income Tax Act 2007 section 809Z10

General interpretation

Section 809Z10 provides definitions of key terms used throughout the remittance basis chapter, ensuring consistent interpretation of important concepts such as business investment provisions, market value, qualifying investment, relevant person, and the remittance basis user.

• Defines "the business investment provisions" as the rules in sections 809VA to 809VO, and "the Commissioners" as HMRC
• Provides that "market value" carries the same meaning as under the capital gains tax legislation (TCGA 1992, sections 272 and 273)
• Establishes that "qualifying investment" and "relevant person" take their meanings from sections 809VC and 809M respectively, and defines "TRF capital" by reference to section 809Q(9)
• Clarifies that "the remittance basis user" simply means the individual whose foreign income or chargeable gains are in question