209 Counteracting the tax advantages
Finance Act 2013 (2013 c 29) | Legislation

209  Counteracting the tax advantages

(1)     If there are tax arrangements that are abusive, the tax advantages that would (ignoring this Part) arise from the arrangements are to be counteracted by the making of adjustments.

(2)     The adjustments required to be made to counteract the tax advantages are such as are just and reasonable.

(3)     The adjustments may be made in respect of the tax in question or any other tax to which the general anti-abuse rule applies.

(4)     The adjustments that may be made include those that impose or increase a liability to tax in any case where (ignoring this Part) there would be no liability or a smaller liability, and tax is to be charged in accordance with any such adjustment.

(5)     Any adjustments required to

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Fraud by false representation

Fraud by false representationFraud by false representationFraud by false representation applies to a broader range of conduct than the offences under the preceding legislation (the Theft Act 1968 (TA 1968)). No gain or loss need actually be made, and no deception need operate on the mind of the

LEXISNEXIS

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these

LEXISNEXIS

Forming enforceable contracts—consideration

Forming enforceable contracts—considerationThis Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in

LEXISNEXIS

Interim injunctions—the American Cyanamid guidelines

Interim injunctions—the American Cyanamid guidelinesThis Practice Note is concerned with substantive interim injunctions, which are a particular species of injunction granted on a temporary basis ahead of trial. As set out below, there are different considerations depending on whether the interim