Corporation Tax Act 2010 section 1139

"Tax advantage"

Section 1139 defines what constitutes a "tax advantage" for the purposes of the Corporation Tax Acts that refer to this definition.

• A tax advantage includes any relief from tax, repayment of tax, or increase in either of those
• It also covers the avoidance or reduction of a tax charge, a tax assessment, or a possible assessment to tax
• The definition extends to avoiding or reducing charges relating to controlled foreign companies, the bank levy, and diverted profits tax
• The method by which avoidance or reduction is achieved is irrelevant — whether through untaxed receipts or deductions in calculating profits