(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
In the Inland Revenue's view the "bona fides" test is not
satisfied by a scheme which, although satisfactorily documented,
has clearly been established as an objectionable tax avoidance
device of the kind described in the following paragraphs. If this
lack of good faith only becomes apparent after the scheme has been
approved the approval can be withdrawn (see Part 19).
