Search Legislation

Finance Act 2015

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 11

 Help about opening options

Alternative versions:

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2015, Paragraph 11. Help about Changes to Legislation

This section has no associated Explanatory Notes

11(1)Paragraph 6A (categorisation of failures) is amended as follows.U.K.

(2)For sub-paragraph (1) substitute—

(A1)A failure is in category 0 if—

(a)it involves a domestic matter,

(b)it involves an offshore matter or an offshore transfer, the territory in question is a category 0 territory and the tax at stake is income tax or capital gains tax, or

(c)it involves an offshore matter and the tax at stake is a tax other than income tax or capital gains tax.

(1)A failure is in category 1 if—

(a)it involves an offshore matter or an offshore transfer,

(b)the territory in question is a category 1 territory, and

(c)the tax at stake is income tax or capital gains tax.

(3)In sub-paragraph (2)(a), after “matter” insert “ or an offshore transfer ”.

(4)In sub-paragraph (3)(a), after “matter” insert “ or an offshore transfer ”.

(5)After sub-paragraph (4) insert—

(4A)A failure “involves an offshore transfer” if—

(a)it does not involve an offshore matter,

(b)it is deliberate (whether or not concealed) and results in a potential loss of revenue,

(c)the tax at stake is income tax or capital gains tax, and

(d)the applicable condition in paragraph 6AA is satisfied.

(6)In sub-paragraph (5), for the words following “revenue” substitute “ and does not involve either an offshore matter or an offshore transfer ”.

(7)In sub-paragraph (6)(a), after “matters” insert “ or transfers ”.

(8)Omit sub-paragraph (8).

(9)In sub-paragraph (9), after “paragraph” insert “ and paragraph 6AA ”.

Commencement Information

I1Sch. 20 para. 11(3)-(9) in force at 1.4.2016 and the amendments therein have effect in accordance with art. 4(2) of the commencing S.I. by S.I. 2016/456, art. 4(1)

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?