[Part 5 Supplementary]
Finance Act 2014 (2014 c 26) | Legislation

[Part 5 Supplementary]

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24

In this Schedule “adjustments†means any adjustments, whether by way of an assessment, the modification of an assessment or return, the amendment or disallowance of a claim, the entering into of a contract settlement or otherwise (and references to “making†adjustments accordingly include securing that adjustments are made by entering into a contract settlement).

Meaning of “avoidance-related ruleâ€

25

(1)     In this Schedule “avoidance-related rule†means a rule in Category 1 or 2.

(2)     A rule is in Category 1 if—

(a)     it refers (in whatever terms) to the purpose or main purpose or purposes of a transaction, arrangements or any other action or matter, and

(b)     to whether or not the purpose in question is or involves the avoidance of tax or the obtaining of any advantage in relation to tax (however described).

(3)     A rule is also in Category 1 if it refers (in whatever terms) to—

(a)     expectations as to what are, or may be, the expected benefits of a transaction, arrangements or any other action or matter, and

(b)     whether or not the avoidance of tax or the obtaining of any advantage in relation to

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