[F11218ZCNTransactions not entered into for genuine commercial reasonsU.K.
This section has no associated Explanatory Notes
(1)A transaction is to be ignored for the purpose of determining museums and galleries exhibition tax relief so far as the transaction is attributable to arrangements (other than tax avoidance arrangements) entered into otherwise than for genuine commercial reasons.
(2)In this section “arrangements” and “tax avoidance arrangements” have the same meaning as in section 1218ZCM.]
Textual Amendments
F1Pt. 15E inserted (for specified purposes and with effect in accordance with Sch. 6 paras. 20, 21(1)(a) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 6 para. 1 (with Sch. 6 para. 21(3))