Paragraph 4

United Kingdom

(1)

This paragraph applies to a scheme or arrangement if under the scheme or arrangement—

(a)

a step is taken by a person who is party to, or concerned in, the scheme or arrangement, or

(b)

a step that could have been taken by such a person is not taken,

and that action or that failure to act has the effect of increasing a claim made by a person who is party to, or concerned in, the scheme or arrangement for an allowance by way of credit in accordance with this Part or of giving rise to such a claim.

(2)

The steps mentioned in sub-paragraph (1) are steps that may be made—

(a)

under the law of any territory, or

(b)

under arrangements made in relation to any territory.

(3)

The steps mentioned in sub-paragraph (1) include—

(a)

claiming, or otherwise securing the benefit of, reliefs, deductions, reductions or allowances;

(b)

making elections for tax purposes.

Notes on Schedule 28AB

Textual amendments

F1: Sch. 28AB repealed (1.4.2010 with effect in accordance with s. 381(1) of the repealing Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), Sch. 8 para. 36, Sch. 10 Pt. 1 (with Sch. 9)
F2: Sch. 28AB inserted (with effect in accordance with s. 87(3)-(5) of the amending Act) by Finance Act 2005 (c. 7), s. 87(2), Sch. 5