Paragraph 3 F1

(1)

If it appears to the Treasury—

(a)

that a scheme of a particular description has been, or might be, entered into for the purpose of enabling any person to obtain a tax advantage, and

(b)

that it is unlikely that persons would enter into a scheme of that description unless the main purpose, or one of the main purposes, of doing so was the obtaining by any person of a tax advantage,

the Treasury may by order designate that scheme for the purposes of this paragraph.

(2)

A scheme may be designated for the purposes of this paragraph even though the Treasury are of the opinion that no scheme of that description could as a matter of law result in the obtaining by any person of a tax advantage.

(3)

The order must allocate a reference number to each scheme.

(4)

In this Schedule “designated scheme” means a scheme of a description designated for the purposes of this paragraph.

Annotations

Textual amendments

F1: Sch. 11A inserted (22.7.2004 for specified purposes, 1.8.2004 in so far as not already in force) by Finance Act 2004 (c. 12), s. 19(2), Sch. 2 para. 2; S.I. 2004/1934, art. 2

Notes on Schedule 11A

Modifications

C1: Sch. 11A modified (16.11.2017 for specified purposes, 1.1.2018 in so far as not already in force) by Finance (No. 2) Act 2017 (c. 32), s. 66(2)(4)