Finance Act 2004

306Meaning of “notifiable arrangements” and “notifiable proposal”U.K.

(1)In this Part “notifiable arrangements” means any arrangements which—

(a)fall within any description prescribed by the Treasury by regulations,

(b)enable, or might be expected to enable, any person to obtain an advantage in relation to any tax that is so prescribed in relation to arrangements of that description, and

(c)are such that the main benefit, or one of the main benefits, that might be expected to arise from the arrangements is the obtaining of that advantage.

(2)In this Part “notifiable proposal” means a proposal for arrangements which, if entered into, would be notifiable arrangements (whether the proposal relates to a particular person or to any person who may seek to take advantage of it).