Section 357YH Countering effect of avoidance arrangements
United Kingdom
Any F1... tax advantages that would (in the absence of this section) arise from relevant avoidance arrangements are to be counteracted by the making of such adjustments as are just and reasonable in relation to amounts to be brought into account for the purposes of this Part.
Any adjustments required to be made under this section (whether or not by an officer of Revenue and Customs) may be made by way of an assessment, the modification of an assessment, amendment or otherwise.
For the meaning of “relevant avoidance arrangements” and “F2tax advantage” see section 357YI.
Annotations
Textual amendments
- F1
Word in s. 357YH(1) omitted (with effect in accordance with reg. 3 of the amending S.I.) by virtue of The Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2017 (S.I. 2017/364), regs. 1, 14(a)
- F2
Words in s. 357YH(3) substituted (with effect in accordance with reg. 3 of the amending S.I.) by The Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2017 (S.I. 2017/364), regs. 1, 14(b)
Notes on Part 8C
Textual amendments
- F1
Pt. 8C inserted (18.11.2015) (with effect in accordance with s. 38(9)-(12) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 38(3)
Notes on Chapter 1
Textual amendments
- F1
Pt. 8C inserted (18.11.2015) (with effect in accordance with s. 38(9)-(12) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 38(3)