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111(1)Tax avoidance arrangements shall be disregarded in determining—
(a)whether debits are to be brought into account under paragraph 9 (writing down on accounting basis) or the amount of such debits, or
(b)whether a credit is to be brought into account under Part 4 (realisation) or the amount of any such credit.
(2)Arrangements are “tax avoidance arrangements” if their main object or one of their main objects is to enable a company—
(a)to obtain a debit under paragraph 9 to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled, or
(b)to avoid having to bring a credit into account under Part 4 or to reduce the amount of any such credit.
(3)In this paragraph—
“arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable; and
“brought into account” means brought into account for tax purposes.
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