Search Legislation

Finance Act 2016

Status:

This is the original version (as it was originally enacted).

Time of “use” of defeated arrangements

55(1)With reference to a particular relevant defeat incurred by a person in relation to arrangements, the person is treated as having “used” the arrangements on the dates set out in this paragraph.

(2)If the person incurs the relevant defeat by virtue of Condition A, the person is treated as having “used” the arrangements on the following dates—

(a)the filing date of any return made by the person on the basis that the tax advantage mentioned in paragraph 12(1)(a) arises from the arrangements;

(b)the date on which the person makes any claim or election on that basis;

(c)the date of any relevant failure by the person to comply with an obligation.

(3)For the purposes of sub-paragraph (2) a failure to comply with an obligation is a “relevant failure” if the whole or part of the tax advantage mentioned in paragraph 12(1)(b) arose as a result of, or in connection with, that failure.

(4)If the person incurs the relevant defeat by virtue of Condition B, the person is treated as having “used” the arrangements on the following dates—

(a)the filing date of any return made by the person on the basis that the asserted advantage (see section 204(3) of FA 2014) results from the arrangements,

(b)the date on which any claim is made by the person on that basis,

(c)the date of any failure by the person to comply with a relevant obligation.

In this sub-paragraph “relevant obligation” means an obligation which would not have fallen on the person (or might have been expected not to do so), had the denied advantage arisen (see section 208(3) of FA 2014).

(5)If the person incurs the relevant defeat by virtue of Condition C, the person is treated as having “used” the arrangements on the following dates—

(a)the filing date of any return made by the person on the basis mentioned in paragraph 14(2)(a);

(b)the date on which the person makes any claim or election on that basis;

(c)the date of any failure by the person to comply with a relevant obligation (as defined in paragraph 14(4)).

(6)If the person incurs the relevant defeat by virtue of Condition D, the person is treated as having “used” the arrangements on the following dates—

(a)the filing date of any return made by the person on the basis mentioned in paragraph 15(2)(a);

(b)the date on which the person makes any claim on that basis;

(c)the date of any failure by the person to comply with a relevant obligation (as defined in paragraph 15(4)).

(7)If the person incurs the relevant defeat by virtue of Condition E, the person is treated as having “used” the arrangements on the following dates—

(a)the filing date of any return made by S to which the counteraction mentioned in paragraph 16(1)(c) relates;

(b)the date on which S made any claim to which that counteraction relates;

(c)the date of any relevant failure by S to which that counteraction relates.

(8)In sub-paragraph (7) “relevant failure” means a failure to comply with an obligation relating to VAT.

(9)In this paragraph “filing date”, in relation to a return, means the earlier of—

(a)the day on which the return is delivered, or

(b)the last day of the period within which the return must be delivered.

(10)References in this paragraph to the date on which a person fails to comply with an obligation are to the date on which the person is first in breach of the obligation.

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources