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2.—(1) The Promoters of Tax Avoidance Schemes (Prescribed Circumstances under Section 235) Regulations 2015(1) are amended as follows.
(2) After regulation 3(3) insert—
“(4) But paragraph (1) does not apply if, at the time any of the conditions are met, P is a member of a promotion structure(2).”.
Section 283(1) is amended by paragraph 18(a) of Schedule 30 to the Finance Act 2021 (c. 26) (“FA 2021”) to include a definition of “promotion structure” for the purposes of Part 5 of FA 2014. The definition of “promotion structure” refers to section 235(1A) of, and Schedule 33A to, FA 2014 which were inserted by paragraphs 9 and 10 of Schedule 30 to FA 2021, respectively. Paragraphs 1 to 5 of Schedule 33A to the Finance Act 2014 describe the cases in which a person is a member of a promotion structure.
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