SCHEDULES
SCHEDULE 34Promoters of tax avoidance schemes: threshold conditions
PART 2Meeting the threshold conditions: bodies corporate F1and partnerships
F2Relevant bodies controlled etc by the same person treated as meeting a threshold condition
Sch. 34 Pt. 2 paras. 13B-13D substituted (with effect in accordance with s. 24(5) of the amending Act) by Finance Act 2017 (c. 10), s. 24(2)
13D
1
If—
a
a person controlled or had significant influence over a relevant body at a time when it met a threshold condition, and
b
at that time that body, or another relevant body which the person controlled or had significant influence over, was a promoter,
any relevant body which the person controls or has significant influence over at the relevant time is treated as meeting the threshold condition at the relevant time.
2
If—
a
two or more persons together controlled or had significant influence over a relevant body at a time when it met a threshold condition, and
b
at that time that body, or another relevant body which those persons together controlled or had significant influence over, was a promoter,
any relevant body which those persons together control or have significant influence over at the relevant time is treated as meeting the threshold condition at the relevant time.
3
It does not matter whether—
a
a relevant body referred to in sub-paragraph (1)(a) or (b) or (2)(a) or (b) exists at the relevant time, or
b
a relevant body existing at the relevant time existed at the time referred to in sub-paragraph (1)(a) or (2)(a).
Words in Sch. 34 heading inserted (with effect in accordance with Sch. 19 para. 9 of the amending Act) by Finance Act 2015 (c. 11), Sch. 19 para. 4(2)