Derivative contracts: tax avoidance: overview of anti-avoidance rules
CFM56000+ follows the Tax Avoidance chapter at CTA09/PT7/CH11 and therefore contains guidance on rules about:
- Unallowable purposes (CFM56010);
- Interaction with transfer pricing rules (CFM56050);
- Transfers of value to connected companies (CFM56070);
- Transactions with non-UK residents (CFM56090);
- Disposals for consideration not fully recognition by accounting practice (CFM56100).
It also deals with guidance on amounts not fully recognised for accounting purposes (CTA09/S599A and S599B as well as S698A) (CFM56110).
Apart from these rules there are a number of other rules intended to address potential avoidance:
- Anti-avoidance provisions within the group continuity rules (CFM53100+);
- Group mismatch scheme rules (CFM77500+).