SCHEDULES

SCHEDULE 18 U.K.Serial tax avoidance

Modifications etc. (not altering text)

C1 Sch. 18 modified (17.12.2020 for specified purposes, 31.12.2020 in so far as not already in force) by 1994 c. 23, Sch. 9ZA para. 79 (as inserted by Taxation (Post-transition Period) Act 2020 (c. 26), s. 11(1)(e), Sch. 2 para. 2 (with s. 3(4), Sch. 2 para. 7(7)-(10)); S.I. 2020/1642, reg. 9)

PART 4 U.K.Restriction of reliefs

Meaning of “relief” U.K.

26 U.K.The following are “reliefs” for the purposes of this Part of this Schedule—

(a) any relief from tax (however described) which must be claimed, or which is not available without making an election,

(b) relief under section 1219 of CTA 2009 (expenses of management of a company's investment business),

(c) any relief (not falling within paragraph (a)) under Part 4 of ITA 2007 (loss relief) or Part 4 or 5 of CTA 2010 (loss relief and group relief), and

(d) any relief (not falling within paragraph (a) or (b)) under a provision listed in section 24 of ITA 2007 (reliefs deductible at Step 2 of the calculation of income tax liability).