天美影院

Most schemes to which聽CTA09/S1248 applies are likely to be cases where a deduction for expenses of management is either created or inflated.聽 But the rule also applies where any tax advantage is secured.聽 The definition of tax advantage is taken from CTA10/S1139 and is wide-ranging:

(1)聽聽聽聽 This section has effect for the purposes of the provisions of the Corporation Tax Acts which apply this section;

(2)聽聽聽聽 鈥淭ax advantage鈥� means鈥�

聽 聽(a)聽聽聽聽 a relief from tax or increased relief from tax,

聽 聽(b)聽聽聽聽 a repayment of tax or increased repayment of tax,

聽 聽(c)聽聽聽聽 the avoidance or reduction of a charge to tax or an assessment to tax,

聽 聽(d)聽聽聽聽 the avoidance of a possible assessment to tax,

聽 聽(da)聽 聽the avoidance or reduction of a charge or assessment to a charge under TIOPA10/PART9A (controlled foreign companies),

聽 聽(e)聽聽聽聽 the avoidance or reduction of a charge or assessment to the bank levy under FA11/SCH19 (the bank levy)

聽 聽(f)聽 聽 聽 the avoidance or reduction of a charge to diverted profits tax.

(3)聽聽聽聽 For the purposes of CTA10/S1139 (2)(c) and (d) it does not matter whether the avoidance聽or reduction is effected鈥�

聽 聽(a)聽聽聽聽 by receipts accruing in such a way that the recipient does not pay or bear tax on them, or

聽 聽(b)聽聽聽聽 by a deduction in calculating profits or gains.

(3A)聽聽聽聽 The avoidance or reduction of a charge or assessment to the bank levy as a result of聽arrangements to which any of FA11/SCH19/PARA47 (7) to (12) any of apply.

(4)聽聽聽聽 In this section 鈥渞elief from tax鈥� includes鈥�

(a)聽聽聽聽 a tax credit under CTA10/S1109 for the purposes of corporation tax, and

(b)聽聽聽聽 a tax credit under ITTOIA05/S397 (1) or S397A (1) for the purposes of income tax.

The definition covers relief, repayments, the amount of a charge, and the assessment of Corporation Tax.