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The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2006
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- UK Statutory Instruments
- 2006 No. 1543
- PART 3
- Regulation 13
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Description 7: Leasing arrangements
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13.—(1) Arrangements are prescribed if—
(a)the arrangements include a plant or machinery lease (see regulation 14);
(b)one of the additional conditions is met (see regulation 15);
(c)the relevant value condition is met (see regulation 16); and
(d)the lease is not a short-term lease (see regulation 17).
(2) But arrangements are not prescribed by this regulation if—
(a)no person is a promoter in relation to them; and
(b)the tax advantage which may be obtained under the arrangements is intended to be obtained by an individual or a business which is a small or medium-sized enterprise.
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