BKM504100 - The Code commitments – tax planning: the “intentions of Parliament”

This section sets out guidance on the interpretation of the phrase the “intentions of Parliament” as it is used in the Code and replaces the original supplementary guidance published when the Code was introduced on 9 December 2009.

For the purposes of this guidance, transactions that HMRC consider to be unacceptable transactions under the Code are called “Code Red” transactions. All other transactions are called “Code Green” transactions.