Section 371ND | What are “designer rate tax provisions”?

(1)For the purposes of step 2 in section 371NB(1) “designer rate tax provisions” means provisions—

(a)which appear to the HMRC Commissioners to be designed to enable companies to exercise significant control over the amount of tax which they pay, and

(b)which are specified in regulations made by the HMRC Commissioners.

(2)Regulations under subsection (1) may make different provision for different cases or with respect to different territories.