Section 864 — Corporation Tax Act 2009: Tax avoidance arrangements to be ignored

Tax avoidance arrangements to be ignored 864 1 In determining whether a credit or a debit is to be brought into account under this Part and, if so, its amount, any tax avoidance arrangements are ignored.

2 Arrangements are “ tax avoidance arrangements ” for this purpose if their main object or one of their main objects is to enable a company—

a to obtain a debit under this Part to which it would not otherwise be entitled, b to obtain a debit under this Part which exceeds that to which it would otherwise be entitled, c to avoid having to bring a credit into account under this Part, or d to reduce the amount of any such credit.

3 In this section— “ arrangements ” includes any scheme, agreement or understanding, whether or not it is legally enforceable, and “ brought into account ” means brought into account for tax purposes.