Section 128B | Giving effect to requirements under section 128A regulations ^F1

(1)Subsection (2) applies if anything in regulations under section 128A requires the Commissioners for Her Majesty’s Revenue and Customs to give effect to an agreement, decision or opinion made or given by—

(a)the Commissioners (or their authorised representative),

(b)the competent authority of a territory outside the United Kingdom, or

(c)any commission, tribunal, court or other person.

(2)The Commissioners are to give effect to the agreement, decision or opinion despite anything in any enactment, and any such adjustment as is appropriate in consequence may be made.

(3)An adjustment under subsection (2) may be made by way of discharge or repayment of tax, the allowance of credit against tax payable in the United Kingdom, the making of an assessment or otherwise.