SCHEDULE 43C – PENALTY UNDER SECTION 212A or 212B: SUPPLEMENTARY PROVISION
In the heading, the words “or 212B” inserted by FA 2021, s. 124(1) and Sch. 32, para. 13(2), with effect in relation to tax arrangements (within the meaning of FA 2013, Pt. 5) entered into at any time (whether before or after the passing of FA 2021 (10 June 2021, Royal Assent)).
Sch. 43C inserted by FA 2016, s. 158(3), with effect in relation to tax arrangements (within the meaning of Part 5 of FA 2013) entered into on or after 15 September 2016.
VALUE OF THE COUNTERACTED ADVANTAGE: INTRODUCTION
1 Paragraphs 2 to 4 set out how to calculate the “value of the counteracted advantage” for the purposes of sections 212A and 212B.