Related Commentary  

25(1)  If–

(a)a person (“P”) makes arrangements under which P agrees (in whatever terms) to forgo (to any extent) tax relief or a right to tax relief (whenever arising), and

(b)the Treasury designates the arrangements for the purposes of this section,

all relevant enactments are to have effect with such modifications as are necessary or expedient to give effect to the agreement.

25(2)  The Treasury may not designate arrangements for the purposes of this section unless–

(a)the arrangements have been made with the Treasury, another government department or another public body, and

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