Corporation Tax Act 2009 section 521

Power to extend this Chapter to other arrangements

Section 521 gives the Treasury the power to bring additional types of financial arrangements within the scope of this Chapter and to make any consequential changes to tax legislation that may be needed as a result.

• The Treasury can extend the Chapter to cover new types of arrangements beyond those already listed
• This is done by statutory instrument (secondary legislation), so it does not require a new Act of Parliament
• When new arrangements are brought in, the Treasury can also make consequential amendments to the wider tax legislation to ensure consistency
• This provides flexibility to respond to evolving financial products and structures without primary legislation