SCHEDULES

[F1 SCHEDULE 34A U.K.Promoters of tax avoidance schemes: defeated arrangements

Textual Amendments

F1 Sch. 34A inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 160(5)

PART 2 U.K.Meaning of “relevant defeat”

“Defeat” of arrangements U.K.

12 (1) Condition B is that a follower notice has been given to a person by reference to the arrangements (and not withdrawn) and— U.K.

(a) the person has complied with subsection (2) of section 208 of FA 2014 by taking the action specified in subsections (4) to (6) of that section in respect of the denied tax advantage (or part of it), or

(b) the denied tax advantage has been counteracted (in whole or in part) otherwise than as mentioned in paragraph (a) and the counteraction is final.

(2) In this paragraph “the denied tax advantage” is to be interpreted in accordance with section 208(3) of FA 2014.

(3) In this Schedule “follower notice” means a follower notice under Chapter 2 of Part 4 of FA 2014.]