Finance Act 2014 (c. 26)

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 4 U.K. Meeting section 237A conditions: bodies corporate and partnerships

[F2 Relevant bodies controlled etc by the same person treated as meeting a section 237A condition U.K.

Textual Amendments

F2 Sch. 34A paras. 20-22 and cross-headings substituted (with effect in accordance with s. 24(6) of the amending Act) by Finance Act 2017 (c. 10), s. 24(3)

22 (1) If— U.K.

(a) a person controlled or had significant influence over a relevant body at a time when it met a section 237A condition, and

(b) at that time that body, or another relevant body which the person controlled or had significant influence over, was a promoter,

any relevant body which the person controls or has significant influence over at the section 237A(2) relevant time is treated as meeting the section 237A condition at the section 237A(2) relevant time.

(2) If—

(a) two or more persons together controlled or had significant influence over a relevant body at a time when it met a section 237A condition, and

(b) at that time that body, or another relevant body which those persons together controlled or had significant influence over, was a promoter,

any relevant body which those persons together control or have significant influence over at the section 237A(2) relevant time is treated as meeting the section 237A condition at the section 237A(2) relevant time.

(3) It does not matter whether—

(a) a relevant body referred to in sub-paragraph (1)(a) or (b) or (2)(a) or (b) exists at the section 237A(2) relevant time, or

(b) a relevant body existing at the section 237A(2) relevant time existed at the time referred to in sub-paragraph (1)(a) or (2)(a).]]