Part 2 Promotion Structures
Finance Act 2021 (2021 c 26) | Legislation

Part 2 Promotion Structures

9

In section 235 (carrying on a business “as a promoter”), after subsection (1) insert—

“(1A)     For the purposes of this Part, a person is treated as carrying on a business as a promoter if the person is a member of a promotion structure (whether or not the person carries on a business).

Schedule 33A describes the cases in which a person is a member of a promotion structure.”

10

After Schedule 33 insert—

“SCHEDULE 33A
Promotion Structures

Section 235

Cases in which a person is a member of a promotion structure.

1

A person (“A”) is a member of a promotion structure if A falls within—

(a)     the case described in paragraph 2 (multiple entity promoter),

(b)     the case described in paragraph 3 (acting for a non-resident promoter),

(c)     the case described in paragraph 4 (control of another promoter), or

(d)     the case described in paragraph 5 (transfer of promotion business).

Multiple entity promoter

2

(1)     A falls within this case if—

(a)     A and one or more other persons carry out activities between them that if carried out by a single person would cause

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