[Part 3 Relevant Defeats: Associated Persons]
Finance Act 2014 (2014 c 26) | Legislation

[Part 3 Relevant Defeats: Associated Persons]

[Attribution of relevant defeats

17

(1)     Sub-paragraph (2) applies if—

(a)     there is (or has been) a person (“Qâ€),

(b)     arrangements (“the defeated arrangementsâ€) have been entered into,

(c)     an event occurs such that either—

(i)     there is a relevant defeat in relation to Q and the defeated arrangements, or

(ii)     the condition in sub-paragraph (i) would be met if Q had not ceased to exist,

(d)     at the time of that event a person (“Pâ€) is carrying on a business as a promoter (or is carrying on what would be such a business under the condition in paragraph 3(2)), and

(e)     Condition 1 or 2 is met in relation to Q and P.

(2)     The event is treated for all purposes of this Part of this Act as a relevant defeat in relation to P and the defeated arrangements (whether or not it is also a relevant defeat in relation to Q, and regardless of whether or not P existed at any time when those arrangements were promoted arrangements in relation to Q).

(3)     Condition 1 is that—

(a)     P is not an individual,

(b)     at a time when

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