Regulation 21 Arrangements excepted from Description 9F1
Arrangements are excepted from being prescribed under regulation 19 if—
(a)
a promoter is a participating entity, or is part of a participating group, within the meaning of section 286 of the Finance Act 2014; and
(b)
HMRC has confirmed, or could reasonably be expected to confirm, to the promoter that the arrangements are acceptable transactions under the Code of Practice on Taxation for Banks (as published by the Commissioners for Her Majesty’s Revenue and Customs on 31st May 2013).
Annotations
Textual amendments
- F1
Regs. 19-21 inserted (23.2.2016) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2016 (S.I. 2016/99), regs. 1(1), 9 (with reg. 1(2))