The Tax Treatment of Financing Costs and Income (Excluded Schemes) Regulations 2013 No. 2892

Excluded schemes for the purposes of the gateway test

Excluded schemes for the purposes of the application Chapter 2 of Part 7 of TIOPA

3.  A scheme of a description within any of regulations 4 to 5 is an excluded scheme for the purposes of section 306 of TIOPA (schemes involving the manipulation of rules in Chapter 2).

But this is subject to regulation 12.