1112[F1Artificially inflated claims for relief]U.K.
(1)To the extent that a transaction is attributable to arrangements entered into wholly or mainly for a disqualifying purpose, it is to be disregarded for [F2the purpose of determining for an accounting period relief to which a company is entitled under this Chapter].
F3(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)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)relief under this Chapter to which it would not otherwise be entitled, [F4or]
(b)relief under this Chapter of a greater amount than that to which it would otherwise be entitled,
F5(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F5(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)In this section “arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.
Textual Amendments
F1S. 1112 heading substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 29(5)
F2Words in s. 1112(1) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 29(2)
F3S. 1112(2) omitted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 3 para. 29(3)
F4Word in s. 1112(3)(a) inserted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 29(4)(a)
F5S. 1112(3)(c)(d) omitted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 3 para. 29(4)(b)