SCHEDULES

SCHEDULE 34 U.K.Promoters of tax avoidance schemes: threshold conditions

PART 2 U.K.Meeting the threshold conditions: bodies corporate [F1 and partnerships]

Textual Amendments

F1 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)

[F2 Relevant bodies controlled etc by the same person treated as meeting a threshold condition U.K.

Textual Amendments

F2 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— U.K.

(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).]