Section 1217RM Transactions not entered into for genuine commercial reasonsF1
(1)
A transaction is to be ignored for the purpose of determining orchestra tax relief so far as the transaction is attributable to arrangements (other than tax avoidance arrangements) entered into otherwise than for genuine commercial reasons.
(2)
In this section “arrangements” and “tax avoidance arrangements” have the same meaning as in section 1217RL.
Annotations
Textual amendments
- F1
Pt. 15D inserted (with effect in accordance with Sch. 8 para. 17(1)(a) of the amending Act) by Finance Act 2016 (c. 24), Sch. 8 para. 1
Notes on Part 15D
Modifications
- C1
Pt. 15D modified (with application in accordance with s. 19(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 19(1)(4)
Notes on Chapter 3
Modifications
- C1
Pt. 15D modified (with application in accordance with s. 19(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 19(1)(4)