Part 4 Supplementary
Finance Act 2022 (2022 c 3) | Legislation

Part 4 Supplementary

Anti-avoidance

36

(1)     This paragraph applies to arrangements if the main purpose, or one of the main purposes of the arrangements, is to—

(a)     reduce or avoid a charge to public interest business protection tax, or

(b)     otherwise avoid the effect of any of the provisions of this Schedule.

(2)     Any such reduction or avoidance that would (in the absence of this paragraph) arise from such arrangements is to be counteracted by the making of such adjustments as are just and reasonable.

(3)     Any adjustments required to be made under this paragraph (whether or not by an officer of Revenue and Customs) may be made by way of—

(a)     an assessment,

(b)     the modification of an assessment,

(c)     amendment or disallowance of a claim,

or otherwise.

(4)     In this paragraph “arrangements” include any agreement, understanding, scheme transaction or series of transactions (whether or not legally enforceable).

No deduction for public interest business protection tax

37

In calculating profits, losses or gains for income tax, capitals gains tax or corporation tax purposes, no deduction is allowed in respect of public interest business protection tax.

Information sharing

38

(1)     This paragraph applies to information

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