31 Countering effect of avoidance arrangements
Finance Act 2018 (2018 c 3) | Legislation

31  Countering effect of avoidance arrangements

(1)     TIOPA 2010 is amended as follows.

(2)     For section 81 (giving a counteraction notice) substitute—

“81 Countering effect of avoidance arrangements

(1)     This section applies if each of conditions A to D of section 82 is met in relation to a person.

(2)     The effects of a scheme or arrangement that are referable to the purpose referred to in condition B of that section are to be counteracted by the making of such adjustments as are necessary.

(3)     Any adjustments

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Novation—why and how to novate a contract

Novation—why and how to novate a contractThere may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the

LEXISNEXIS

Section 2(1) of the Misrepresentation Act 1967 allows a claimant to claim damages for non-fraudulent

Section 2(1) of the Misrepresentation Act 1967 allows a claimant to claim damages for non-fraudulent misrepresentation, unless the representor can prove they had reasonable grounds for believing the statement to be true. If the representor had reasonable grounds for believing the statement to be

LEXISNEXIS

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or cancelling their debt claims against the company (and the rest of the group).Many highly levered deals have thin equity cushions and

LEXISNEXIS

The British Franchise Association (BFA)

The British Franchise Association (BFA)This Practice Note examines the role and remit of the British Franchise Association (the BFA) in the franchise industry in the UK. It looks at the legislative and regulatory framework in the franchise industry, the membership criteria of the BFA, the BFA’s Code