Part 14Remediation of contaminated F1or derelict land
Chapter 5Tax avoidance
1169Artificially inflated claims for relief or tax credit
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 the purposes mentioned in subsection (2).
2
Those purposes are determining for an accounting period the amount of—
a
any relief to which a company is entitled under Chapter 2,
b
any land remediation tax credits to which a company is entitled under section 1151,
c
d
any F4BLAGAB tax credits to which such a company is entitled under section 1164.
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 Chapter 2 to which the company would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled,
b
a land remediation tax credit to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled,
c
relief under section 1161 F2or 1162 to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled, or
d
a life assurance company tax credit to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled.
4
In this section “arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.
Words in Pt. 14 heading inserted (with effect in accordance with Sch. 7 paras. 27, 28 of the amending Act) by Finance Act 2009 (c. 10), Sch. 7 para. 2