# The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2004, Paragraph 8: Excluded arrangements


(1) Arrangements are excluded by this paragraph if—
(a) sub-paragraphs (2) and (3) apply; and
(b) where, as part of the arrangements, a promoter, or any person connected with a promoter, becomes a party to one or more financial products, sub-paragraph (4) applies.
(2) This sub-paragraph applies where the arrangements are such that it might reasonably be expected that no promoter, and no person connected with a promoter, of arrangements that are the same as, or substantially similar to, the arrangements in question would be able to obtain a premium fee from a person experienced in receiving services of the type being provided.
(3) This sub-paragraph applies where the tax advantage expected to be obtained under the arrangements does not arise from any element of the arrangements (including the way in which they are structured) which, disregarding any duty of confidentiality owed to any person, a promoter might reasonably be expected to wish to keep confidential from other promoters.
(4) This sub-paragraph applies where none of the terms of the financial product or products mentioned in sub-paragraph (1)(b) differs significantly from the terms which might reasonably be expected to be offered in the open market to the other party to a product that is, or products that are, the same as, or substantially similar to, the product or products in question.
(5) For the purposes of this paragraph, a premium fee, in relation to any arrangements, is a fee which is chargeable by virtue of any element of the arrangements (including the way in which they are structured) from which the tax advantage expected to be obtained arises and is—
(a) a fee to a significant extent attributable to that tax advantage; or
(b) a fee to any extent contingent upon the obtaining of that tax advantage.

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Source: https://www.legislation.gov.uk/uksi/2004/1863/schedule/paragraph/8 (the official version)
Page: https://openlegislation.uk/tax-avoidance-schemes-prescribed-descriptions-of-arrangements-regulations-2004/schedule/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.