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anti-avoidance provisions


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A cluster of statutory provisions designed to stop certain arrangements that would otherwise reduce the taxpayer’s tax liability. The main anti-avoidance provisions, as found in the Taxes Act 1988, are: a clause dealing with so-called dividend stripping and bond washing; a clause concerning manufactured dividends; a clause dealing with transactions in securities; the so-called ‘Beatles clause’ designed to counter an arrangement entered into by the group whereby they sold their future income to a company in exchange for a (pre-1965 non-taxable) capital sum received.

a clause dealing with so-called dividend stripping and bond washing;

a clause concerning manufactured dividends;

a clause dealing with transactions in securities;

the so-called ‘Beatles clause’ designed to counter an arrangement entered into by the group whereby they sold their future income to a company in exchange for a (pre-1965 non-taxable) capital sum received.

See tax avoidance.

Subjects: Law — Accounting.


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