Related Commentary  Related HMRC Manuals

371JF(1)  The exempt period exemption does not apply for a CFC's accounting period (“the relevant accounting period”) if condition A or B is met.

371JF(2)  Condition A is that–

(a)an arrangement is entered into at any time,

(b)the main purpose, or one of the main purposes, of the arrangement is to secure a tax advantage for any person,

(c)the arrangement is linked to the exempt period exemption applying or being expected to apply (apart from this section)–

(i)for the relevant accounting period, or

(ii)for that period and one or more other accounting periods of the CFC, and

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