Taxes Management Act 1970 section 18E

Interpretation of sections 18B to 18D: "prescribed" etc.

Section 18E clarifies how key terms used in sections 18B to 18D should be interpreted, and specifies which general definitions do not apply to those sections.

• "Prescribed" means as specified in regulations made under section 18B
• The general interpretation rules in section 118 of the Taxes Management Act 1970 do not apply to sections 18B to 18D
• The standard definition of "savings income" in section 18 of the Income Tax Act 2007 does not apply to sections 18B to 18D
• Sections 18B to 18D therefore operate with their own self-contained definitions, separate from the wider tax code