BLM82035 - Sale of lessor companies
and similar arrangements: anti- avoidance: manipulation of balance
sheet values – main purpose test
FA06/SCH10/PARA38A cancels the effect of arrangements which
prevent Schedule 10 from operating as intended. It applies to a
change of ownership that happens on or after 22 November 2006.
The paragraph applies:
- whenever there is an increase or a
decrease in the amount that is shown in the balance sheet of a
company; and
- that increase or decrease is caused
because the company has directly or indirectly entered into
arrangements, see
BLM82040; and
- the main purpose, or one of the main
purposes, of the arrangements is to secure a tax advantage, see
BLM82045.
