67
CurrentWhen is a tax benefit obtained
Part 8Avoidance schemes
67 When is a tax benefit obtained
(1)
A person obtains a tax benefit if an amount of land tax or windfall tax payable by the person under this Act apart from this part is, or could reasonably be expected to be, less than it would have been had the scheme not been entered into or carried out.
(2)
The amount of the tax benefit is the difference between the amount of land tax or windfall tax payable and the amount of land tax or windfall tax that would have been payable had the scheme not been entered into or carried out.
This Act’s bill:Explanatory memorandumSecond reading speech
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.