Paragraph 14 F1

United Kingdom

(1)

Condition D is that—

(a)

the arrangements are disclosable VAT F2or other indirect tax arrangements to which a F3... person is a party,

(b)

the F4... person has made a return or claim on the basis that a relevant tax advantage arises,

(c)

the relevant tax advantage has been counteracted, and

(d)

the counteraction is final.

(2)

For the purposes of sub-paragraph (1) “relevant tax advantage” means a tax advantage which the arrangements might be expected to enable the F5... person to obtain.

(3)

For the purposes of this paragraph the relevant tax advantage is “counteracted” if adjustments are made in respect of the F6... person's tax position on the basis that the whole or part of that tax advantage does not arise.

Annotations

Textual amendments

F1: Sch. 34A inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 160(5)
F2: Words in Sch. 34A para. 14(1)(a) inserted (16.11.2017 for specified purposes, 1.1.2018 in so far as not already in force) by Finance (No. 2) Act 2017 (c. 32), s. 66(4), Sch. 17 para. 54(3)(a)
F3: Word in Sch. 34A para. 14(1)(a) omitted (16.11.2017 for specified purposes, 1.1.2018 in so far as not already in force) by virtue of Finance (No. 2) Act 2017 (c. 32), s. 66(4), Sch. 17 para. 54(3)(b)
F4: Word in Sch. 34A para. 14(1)(b) omitted (16.11.2017 for specified purposes, 1.1.2018 in so far as not already in force) by virtue of Finance (No. 2) Act 2017 (c. 32), s. 66(4), Sch. 17 para. 54(3)(b)
F5: Word in Sch. 34A para. 14(2) omitted (16.11.2017 for specified purposes, 1.1.2018 in so far as not already in force) by virtue of Finance (No. 2) Act 2017 (c. 32), s. 66(4), Sch. 17 para. 54(3)(b)
F6: Word in Sch. 34A para. 14(3) omitted (16.11.2017 for specified purposes, 1.1.2018 in so far as not already in force) by virtue of Finance (No. 2) Act 2017 (c. 32), s. 66(4), Sch. 17 para. 54(3)(b)