OpenLegislation

Paragraph 5

After section 209AB (as inserted by paragraph 4) insert—

“Sections 209AA and 209AB: definitions

209AC
(1)

In sections 209AA and 209AB—

  • “final GAAR counteraction notice” means a notice given under—

    1. (a)

      paragraph 12 of Schedule 43,

    2. (b)

      paragraph 8 or 9 of Schedule 43A, or

    3. (c)

      paragraph 8 of Schedule 43B,

  • “GAAR procedural requirements” means the procedural requirements of Schedule 43, 43A or 43B,

  • “lesser adjustments” means adjustments specified in the final GAAR counteraction notice which assume a smaller tax advantage than was assumed in the protective GAAR notice or (as the case may be) the Schedule 43 or 43A notice, and

  • “ordinary assessing time limit”, in relation to any adjustments, means the time limit imposed by or under any enactment other than this Part for the making of the adjustments.

(2)

Expressions which are used in section 202 of FA 2014 (“tax enquiry”, and its being “in progress”, and “return”) have the same meaning in sections 209AA and 209AB as they have in that section (and references to completing a tax enquiry are to be read accordingly).”