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FA21/S14

Because FA21/S9 has effect as if it were contained in CAA01/PART2/CH4, the targeted anti-avoidance rules in CAA01/CH17 apply to the super-deduction and SR allowance. There is guidance about these rules in CA28000.

The CAA01/CH17 anti-avoidance rules are supplemented by an additional anti-avoidance rule in FA21/S14. Under this rule any relevant tax advantage that would otherwise be obtained as a result of relevant arrangements is to be counteracted by the making of just and reasonable adjustments.

“Tax advantage� is defined by CAA01/S577(4) CA11850.

A “relevant tax advantage� is a tax advantage connected with a super-deduction or SR allowance.

“Arrangements� include any agreement, understanding, scheme, transaction or series of transactions (whether or not legally enforceable).

Arrangements are “relevant arrangements� if both of the following conditions are met:

• the purpose, or one of the main purposes, of the arrangements is to obtain a relevant tax advantage
• it is reasonable, taking account of all the relevant circumstances, to do one of the followingâ€�
  • to conclude that the arrangements are, or include steps that are, contrived, abnormal or lacking a genuine commercial purpose
  • to regard the arrangements as circumventing the intended limits of relief under CAA01 or otherwise exploiting shortcomings in CAA01.

Adjustments under FA21/S14 may be made by way of an assessment, the modification of an assessment, the amendment or disallowance of a claim, or otherwise.