Section 1112I Transactions aimed at obtaining credit or relief to be disregardedF1
United Kingdom
To the extent that a transaction is attributable to arrangements entered into for a disqualifying purpose, it is to be disregarded in ascertaining a company’s entitlement to relief under this Part.
Arrangements are entered into for a disqualifying purpose if their main purpose, or one of their main purposes, is to enable a company to obtain relief under this Part—
to which it would not otherwise be entitled, or
of greater amount than that to which it would otherwise be entitled.
Annotations
Textual amendments
- F1
Pt. 13 Ch. 8 substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 8, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Notes on Part 13
Textual amendments
- F1
Words in Pt. 13 heading omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 3, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2