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Regulation 18 Tax avoidance arrangements

Original text. Later amendments are not shown.

(1)

For the purposes of regulation 17(c), arrangements are tax avoidance arrangements in relation to a transaction if their main object or one of their main objects is—

(a)

to enable payment of the tax payable in respect of the transaction to be deferred; or

(b)

to avoid the amount or value of the whole or part of the chargeable consideration for the transaction being determined for the purposes of Part 4 of the Finance Act 2003 in accordance with section 51(1).

(2)

In this regulation, “arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.