Revenue Note for Guidance

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Revenue Note for Guidance

817RI Specified arrangements

This section makes provision for the exclusion of certain types of arrangements from the scope of hallmark A.3.

(1) For the purposes of this section, the term “specified arrangement” means an arrangement that is within one of the classes of arrangements specified in Schedule 34.

(2) A specified arrangement will not contain hallmark A.31 where:

  • the arrangement would, but for the operation of this section, contain the hallmark A.3,
  • the arrangement satisfies the main benefit test2 referred to in Annex IV of the Directive, and
  • the arrangement meets the conditions set out in subsection (3).

(3) The conditions referred to in subsection (2) are as follows:

  • the tax advantage arises solely by virtue of the arrangement being within one of the classes of arrangements specified in Schedule 34, and
  • the specified arrangement is not a tax avoidance transaction within the meaning of section 811C3.

1 Paragraph (3) of category A of the hallmarks describes an arrangement that has substantially standardised documentation and/or structure and is available to more than one relevant taxpayer without a need to be substantially customised for implementation.

2 The main benefit test will be satisfied if it can be established that a tax advantage is the main benefit or one of the main benefits which, having regard to all relevant facts and circumstances, a person may reasonably expect to obtain from an arrangement (Annex IV of the Directive).

3 Section 811C denies any person the benefit of a tax advantage created through the use of a tax avoidance transaction.

Relevant Date: Finance Act 2021