218AFurther restriction on annual investment allowance

1

This section applies where an arrangement is entered into wholly or mainly for a disqualifying purpose.

2

Arrangements are entered into for a disqualifying purpose if their main purpose, or one of their main purposes, is to enable a person to obtain an annual investment allowance to which the person would not otherwise be entitled.

3

The annual investment allowance mentioned in subsection (2) is not to be made.

4

Any annual investment allowance which is prohibited by subsection (3), but which has already been made, is to be withdrawn.