F1PART 15EMuseums and galleries exhibition tax relief
CHAPTER 3Museums and galleries exhibition tax relief
Anti-avoidance etc
1218ZCMTax avoidance arrangements
(1)
A company does not qualify for museums and galleries exhibition tax relief in relation to the production of an exhibition if there are any tax avoidance arrangements relating to the production.
(2)
Arrangements are “tax avoidance arrangements” if their main purpose, or one of their main purposes, is the obtaining of a tax advantage.
(3)
In this section—
“arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable;
“tax advantage” has the meaning given by section 1139 of CTA 2010.
1218ZCNTransactions not entered into for genuine commercial reasons
(1)
A transaction is to be ignored for the purpose of determining museums and galleries exhibition tax relief so far as the transaction is attributable to arrangements (other than tax avoidance arrangements) entered into otherwise than for genuine commercial reasons.
(2)
In this section “arrangements” and “tax avoidance arrangements” have the same meaning as in section 1218ZCM.