SCHEDULES

SCHEDULE 18Serial tax avoidance

PART 2Entry into the regime and basic concepts

12Condition A

1

Condition A is that—

a

P has been given a notice under paragraph 12 of Schedule 43 to FA 2013 (general anti-abuse rule: notice of final decision), paragraph 8 or 9 of Schedule 43A to that Act (pooling and binding of arrangements: notice of final decision) or paragraph 8 of Schedule 43B to that Act (generic referrals: notice of final decision) stating that a tax advantage arising from the arrangements is to be counteracted,

b

that tax advantage has been counteracted under section 209 of FA 2013, and

c

the counteraction is final.

2

For the purposes of this paragraph the counteraction of a tax advantage is “final” when the adjustments made to effect the counteraction, and any amounts arising as a result of those adjustments, can no longer be varied, on appeal or otherwise.