SCHEDULES
SCHEDULE 22Prevention of exploitation of Schedule 20 to Finance Act 1994
Part IVInterpretation
Relevant arrangements for purposes of paragraph 9
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1
Any arrangements under which—
a
interest arises at irregular intervals during the years 1994-95 to 1997-98, or
b
there are artificial variations in the rate of interest applicable during those years,
are relevant arrangements for the purposes of paragraph 9 above unless the obtaining of a tax advantage is not the main benefit that could reasonably be expected to arise from the making of the arrangements.
2
Any variations in the rate of interest applicable during the years 1994-95 to 1997-98 are artificial variations for the purposes of this paragraph unless they are based on variations in a variable rate of interest the values of which from time to time are regularly published.