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Point in time view as at 10/12/2014.
There are currently no known outstanding effects for the Income Tax Act 2007, Section 809ZK.
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(1)This section applies for the purposes of Condition B.
(2)Subsection (3) applies where the arrangements entered into by the linked person (as mentioned in Condition A) involve a transaction to which—
(a)that or any other linked person (“X”), and
(b)another person (“Y”),
are parties.
(3)X obtains a financial advantage from the charity to which the donation is made or a connected charity if—
(a)the terms of the transaction are less beneficial to Y or more beneficial to X (or both) than those which might reasonably be expected in a transaction concluded between parties dealing at arm's length, or
(b)the transaction is not of a kind which a person dealing at arm's length and in place of Y might reasonably be expected to make.
(4)Nothing in this section is intended to limit the circumstances in which a linked person may be regarded as obtaining a financial advantage for the purposes of section 809ZJ.
(5)In this section—
“Condition A” and “Condition B” have the same meaning as in section 809ZJ;
“linked person” has the meaning given by section 809ZJ(3);
“transaction” includes (for example)—
the sale or letting of property,
the provision of services,
the exchange of property,
the provision of a loan or any other form of financial assistance, and
investment in a business.]
Textual Amendments
F1Pt. 13 Ch. 8 inserted (19.7.2011) (with effect in accordance with Sch. 3 para. 27 28 of the amending Act) by Finance Act 2011 (c. 11), Sch. 3 para. 1
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