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Finance Act 2020

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Changes over time for: Paragraph 13

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Point in time view as at 01/10/2021.

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There are currently no known outstanding effects for the Finance Act 2020, Paragraph 13. Help about Changes to Legislation

13U.K.After section 61N insert—

61NAMeaning of status determination statement

(1)For the purposes of section 61N “status determination statement” means a statement by the client that—

(a)states that the client has concluded that the condition in section 61M(1)(d) is met in the case of the engagement and explains the reasons for that conclusion, or

(b)states (albeit incorrectly) that the client has concluded that the condition in section 61M(1)(d) is not met in the case of the engagement and explains the reasons for that conclusion.

(2)But a statement is not a status determination statement if the client fails to take reasonable care in coming to the conclusion mentioned in it.

(3)For further provisions concerning status determination statements, see section 61T (client-led status disagreement process) and section 61TA (duty for client to withdraw status determination statement if it ceases to be medium or large).

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