Capital Allowances Act 2001 section 270IB

Anti-avoidance: general

Section 270IB introduces a general anti-avoidance rule for structures and buildings allowances, enabling HMRC to counteract tax advantages arising from arrangements whose main purpose is to exploit the allowances.

• Where avoidance arrangements exist in relation to a building or structure and would produce a tax advantage under the structures and buildings allowances rules, that advantage must be counteracted by just and reasonable adjustments
• The person holding the relevant interest in the building or structure does not need to be a party to the arrangements for the rule to apply
• Adjustments can affect the tax position of persons other than the one whose tax advantage is being counteracted
• "Arrangements" is broadly defined to include any agreement (including agreed valuations), understanding, scheme, transaction or series of transactions, whether or not legally enforceable