Corporation Tax Act 2010 section 938U

Meaning of "scheme"

Section 938U defines what the term "scheme" means for the purposes of this Part of the Act.

• The term "scheme" is given a deliberately wide definition covering any scheme, arrangements or understanding of any kind
• The definition applies regardless of whether the scheme or arrangement is legally enforceable
• It covers arrangements involving a single transaction as well as those involving two or more transactions
• This broad definition ensures the provisions of this Part cannot be circumvented by structuring arrangements in informal or non-binding ways