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Textual Amendments
F1Sch. A1 inserted (with effect in accordance with Sch. 25 para. 9 of the amending Act) by Finance Act 2008 (c. 9), Sch. 25 para. 5
28(1)To the extent that a transaction is attributable to arrangements entered into wholly or mainly for a disqualifying purpose, it shall be disregarded in determining for a chargeable period the amount of any first-year tax credit to which a company is entitled under this Schedule.U.K.
(2)Arrangements are entered into wholly or mainly for a disqualifying purpose if their main object, or one of their main objects, is to enable a company to obtain a first-year tax credit—
(a)to which it would not otherwise be entitled, or
(b)of a greater amount than that to which it would otherwise be entitled.
(3)“Arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.]