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Finance Act 2011
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Finance Act 2011, Paragraph 48 is up to date with all changes known to be in force on or before 26 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 19 Paragraph 48:
- Sch. 23 para. 45(1)(ia) inserted by 2017 c. 10 Sch. 11 para. 6(3)
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Sch. 23 para. 45(1)(ia) inserted by 2017 c. 10 Sch. 11 para. 6(3)
48(1)Section 1139 of CTA 2010 (definition of “tax advantage”) is amended as follows.U.K.
(2)In subsection (2)—
(a)omit the “or” after paragraph (c), and
(b)after paragraph (d) insert “, or
(e)the avoidance or reduction of a charge or assessment to the bank levy under Schedule 19 to FA 2011 (the bank levy).”
(3)After subsection (3) insert—
“(3A)The avoidance or reduction of a charge or assessment to the bank levy as a result of arrangements to which paragraph 47 of Schedule 19 to FA 2011 (bank levy: anti-avoidance) applies is to be ignored for the purposes of subsection (2)(e) to the extent that it results from arrangements, or part of arrangements, to which any of paragraph 47(7) to (12) of that Schedule applies.”
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