PART 8

Circumstances in which person not to be treated as promoter

28 Groups

(1) A person shall not be treated as a promoter, in relation to a disclosable transaction, for the purposes of Chapter 3 of Part 33 of the Principal Act where—

(a) the person carrying on the relevant business is a company (in this Regulation referred to as the “first-mentioned company”), and

(b) on the relevant date, each other person to whom the first-mentioned company provides services relating to taxation in connection with a transaction is a company which is a member of the same group as the first-mentioned company.

(2) For the purposes of this Regulation “group” has the same meaning as it has in the definition of “relevant business” in section 817D(1) of the Principal Act.