SCHEDULES
C1SCHEDULE 18Serial tax avoidance
Annotations:
Modifications etc. (not altering text)
PART 5Penalty
Value of counteracted advantage: deferred tax
34
1
To the extent that the counteracted advantage (see paragraph 35) is a deferral of tax (other than VAT), the value of that advantage is—
a
25% of the amount of the deferred tax for each year of the deferral, or
b
a percentage of the amount of the deferred tax, for each separate period of deferral of less than a year, equating to 25% per year,
or, if less, 100% of the amount of the deferred tax.
2
This paragraph does not apply to a case to the extent that paragraph 33 applies.
Sch. 18 modified (17.12.2020 for specified purposes, 31.12.2020 in so far as not already in force) by 1994 c. 23, Sch. 9ZA para. 79 (as inserted by Taxation (Post-transition Period) Act 2020 (c. 26), s. 11(1)(e), Sch. 2 para. 2 (with s. 3(4), Sch. 2 para. 7(7)-(10)); S.I. 2020/1642, reg. 9)