Finance Act 2013

[F1 Modifications to Schedule 43B U.K.

Textual Amendments

F1 Sch. 43D inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 1

13 (1) Schedule 43B to FA 2013 (procedural requirements: generic referral of tax arrangements) has effect with the modifications in sub-paragraph (2). U.K.

(2) Paragraph 1 is to be read as if—

(a) in sub-paragraph (1)(a), for “paragraph 1(3) of Schedule 43A” there were substituted “ paragraph 10 of Schedule 43D ”,

(b) for the words before sub-paragraph (b)(i), there were substituted “ the relevant corrective action has been taken before ”, and

(c) after sub-paragraph (5), there were inserted—

“(6) For the purposes of sub-paragraph (1)(b) the “relevant corrective action” is taken if (and only if) in respect of the tax advantage arising out of the lead arrangements—

(a) the responsible partner has taken the action mentioned in paragraph 4A(1)(c) of Schedule 43, or

(b) each of the relevant partners in question have taken the action described in paragraph 4B(1)(c) of that Schedule.”]