OpenLegislation

Paragraph 2

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

An agreement that the tax advantage to a person accruing from the operation of the scheme be shared to any extent with another party to it or another person promoting it.

(2)

A person is a promoter of a scheme if, in the course of a trade, profession or business which involves the provision to other persons of services relating to taxation—

(a)

he is to any extent responsible for the design of the proposed arrangements; or

(b)

he invites persons to enter into contracts for the implementation of the proposed arrangements.