Part 2 Minor and Consequential Amendments to Part 5 of FA 2013
Finance Act 2021 (2021 c 26) | Legislation

Part 2 Minor and Consequential Amendments to Part 5 of FA 2013

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Part 5 of FA 2013 is amended as follows.

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(1)     Section 209 (counteracting tax advantages) is amended as follows.

(2)     In subsection (5), for “the person to whom the tax advantage would arise” substitute “anyone else”.

(3)     After subsection (6) insert—

“(6A)     The procedural requirements mentioned in subsection (6)(a) include any procedural requirements which apply under or by virtue of Schedule 43D (which makes provision in relation to partnerships).”

(4)     For subsections (8) and (9) substitute—

“(8)     Where a matter is referred to the GAAR Advisory Panel under paragraph 5 or 6 of Schedule 43 in relation to any tax arrangements, no GAAR-related adjustments may be made in the period (“the closed period”) that—

(a)     begins with the 31st day after the end of the 45 day period mentioned in paragraph 4(1) of Schedule 43, and

(b)     ends immediately before the day on which the notice under paragraph 12 of Schedule 43 is given in relation to the tax arrangements.

(9)     Where a pooling notice or notice of binding has been given in relation to any tax arrangements, no GAAR-related adjustments

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