Taxation (International and Other Provisions) Act 2010 Schedule 11 Part 3

Advance pricing agreements: index of defined expressions used in Part 5

Schedule 11 Part 3 provides a quick-reference glossary of the key defined terms used throughout Part 5 of the Act, which deals with advance pricing agreements.

• An "advance pricing agreement" is defined in section 218(1) and refers to a formal agreement between a taxpayer and HMRC on the transfer pricing methodology to be applied to specified cross-border transactions in advance.
• "The Commissioners" is defined in section 230 and refers to the Commissioners for His Majesty's Revenue and Customs, the body responsible for administering advance pricing agreements.
• "Officer" is also defined in section 230 and refers to an officer of Revenue and Customs, being the individual at HMRC who acts on behalf of the Commissioners in dealing with these agreements.
• This index serves as a navigational aid, directing the reader to the precise section where each term is given its full legal meaning, ensuring consistent interpretation across all provisions in Part 5.