Sch 21 para 11 Artificially inflated claims for first-year allowances
After section 416D insert— Artificially inflated claims for first-year allowances (416E) (1) To the extent that a transaction is attributable to arrangements entered into wholly or mainly for a disqualifying purpose, it shall be disregarded in determining for a chargeable period the amount of any first-year allowance to which a person is entitled. (2) For the purposes of this section, arrangements are entered into wholly or mainly for a “ disqualifying purpose ” if their main object, or one of their main objects, is to enable a person to obtain— (a) a first-year allowance to which he would not otherwise be entitled, or (b) a first-year allowance of a greater amount than that to which he would otherwise be entitled. (3) In this section “ arrangements ” includes any scheme, agreement or understanding, whether or not legally enforceable.