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 Treating persons controlled by the same person as meeting a threshold condition U.K.

Textual Amendments

F2 Sch. 34 paras. 13A-13D and cross-headings substituted for Sch. 34 para. 13 (with effect in accordance with Sch. 19 para. 9 of the amending Act) by Finance Act 2015 (c. 11), Sch. 19 para. 4(3)

13D (1) A relevant body (“RB”) is treated as meeting a threshold condition at the relevant time if— U.K.

(a) RB or another relevant body met the threshold condition at a time (“time T”) when it was controlled by a person (“C”),

(b) at time T, there was a relevant body controlled by C which carried on a business as a promoter, and

(c) RB is controlled by C at the relevant time.

(2) For the purposes of determining whether the requirements of sub-paragraph (1) are met it does not matter whether—

(a) RB existed at time T, or

(b) any relevant body (other than RB) by reason of which the requirements of sub-paragraph (1) are met exists at the relevant time.]