(a) In this section -
'chargeable period' means an accounting period of a company or a year of assessment;
'first relevant chargeable period' means -
(a) the chargeable period in which a relevant transaction is entered into, or
(b) if a relevant transaction is entered into -
(i) by a person receiving a reverse premium, and
(ii) for the purposes of a trade or profession which that person is about to carry on,
the chargeable period in which the person commences to carry on the trade or profession;
'relevant arrangements' means a relevant transaction and any arrangements entered into in connection with it, whether before, at the same time or after it;
'relevant transaction' means a transaction under which a person is granted an estate or interest in, or a right in or over, land;
'reverse premium' means a payment or other benefit received by a person by way of inducement in connection with a relevant transaction being entered into by that person or by a person connected with that perso
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