SCHEDULES
F1SCHEDULE 34APromoters of tax avoidance schemes: defeated arrangements
PART 2Meaning of “relevant defeat”
“Defeat” of arrangements
15
1
Condition E is that the arrangements are disclosable VAT arrangements to which a taxable person (“T”) is a party and—
a
the arrangements relate to the position with respect to VAT of a person other than T (“S”) who has made supplies of goods or services to T,
b
the arrangements might be expected to enable T to obtain a tax advantage in connection with those supplies of goods or services,
c
the arrangements have been counteracted, and
d
the counteraction is final.
2
For the purposes of this paragraph the arrangements are “counteracted” if—
a
HMRC assess S to tax or take any other action on a basis which prevents T from obtaining (or obtaining the whole of) the tax advantage in question, or
b
adjustments are made on a basis such as is mentioned in paragraph (a).
Sch. 34A inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 160(5)