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Taxation (International and Other Provisions) Act 2010
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Changes over time for: Section 87
Version Superseded: 15/03/2018
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87Section 83(2) and (4): schemes that would reduce a person's tax liabilityU.K.
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(1)This section applies to a scheme or arrangement if, under the scheme or arrangement, the condition in subsection (2) is met in relation to a person who for a chargeable period has claimed, or is in a position to claim, any credit that under the arrangements is to be allowed for foreign tax.
(2)The condition is that amount A is less than amount B.
(3)Amount A is the amount of UK tax payable by the person in respect of income and chargeable gains arising in the chargeable period.
(4)Amount B is the amount of UK tax that would be payable by the person in respect of income and chargeable gains arising in the chargeable period if, in determining that amount, the transactions forming part of the scheme or arrangement were disregarded.
(5)In this section “UK tax” means income tax, corporation tax and capital gains tax.
(6)In this section so far as it relates to capital gains tax “chargeable period” means tax year (see section 288(1ZA) of TCGA 1992).
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