Part 2 Minor and Consequential Amendments to Part 5 of FA 2013
Finance Act 2021 (2021 c 26) | Legislation

Part 2 Minor and Consequential Amendments to Part 5 of FA 2013

2

Part 5 of FA 2013 is amended as follows.

3

(1)     Section 209 (counteracting tax advantages) is amended as follows.

(2)     In subsection (5), for “the person to whom the tax advantage would arise†substitute “anyone elseâ€.

(3)     After subsection (6) insert—

“(6A)     The procedural requirements mentioned in subsection (6)(a) include any procedural requirements which apply under or by virtue of Schedule 43D (which makes provision in relation to partnerships).â€

(4)     For subsections (8) and (9) substitute—

“(8)     Where a matter is referred to the GAAR Advisory Panel under paragraph 5 or 6 of Schedule 43 in relation to any tax arrangements, no GAAR-related adjustments may be made in the period (“the closed periodâ€) that—

(a)     begins with the 31st day after the end of the 45 day period mentioned in paragraph 4(1) of Schedule 43, and

(b)     ends immediately before the day on which the notice under paragraph 12 of Schedule 43 is given in relation to the tax arrangements.

(9)     Where a pooling notice or notice of binding has been given in relation to any tax arrangements, no GAAR-related adjustments

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

The Standard Conditions of Sale (5th edition: 2018 revision)—a guide to the main provisions

The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for

LEXISNEXIS

Carriage of goods by sea—the Hague-Visby Rules

Carriage of goods by sea—the Hague-Visby RulesThis Practice Note explains the Hague-Visby Rules (the Rules) which are an international convention enacted into English law by the Carriage of Goods by Sea Act 1971 (CGSA 1971) whose purpose is to regulate some of the most important rights and

LEXISNEXIS

Resulting trusts

Resulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive and implied trusts, although it is perhaps doubtful whether there is any form of implied trust which is not in fact either a resulting trust or a

LEXISNEXIS

Forming enforceable contracts—consideration

Forming enforceable contracts—considerationThis Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in