- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
There are currently no known outstanding effects for the Income Tax Act 2007, Cross Heading: Supplementary.
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(1)An officer of Revenue and Customs may by notice require any person to provide the officer with such particulars as the officer may reasonably require for the purposes of this Chapter.
(2)The officer may direct the time within which the particulars must be provided and that time must be at least 30 days.
(3)The particulars which a person must provide under this section, if required to do so by a notice under subsection (1), include particulars about—
(a)transactions with respect to which the person is or was acting on behalf of others,
(b)transactions which in the opinion of the officer should properly be investigated for the purposes of this Chapter even though in the person's opinion no liability to income tax arises under this Chapter, and
(c)whether the person has taken or is taking any part and, if so, what part in transactions of a description specified in the notice.
(4)A [F1relevant lawyer] is not treated as having taken part in a transaction for the purposes of subsection (3)(c) merely because of giving professional advice to a client about it.
[F2(4A)In this section “relevant lawyer” means a barrister, advocate, solicitor or other legal representative communications with whom may be the subject of a claim to professional privilege or, in Scotland, protected from disclosure in legal proceedings on grounds of confidentiality of communication.]
(5)This section is subject to—
section 749 (restrictions on particulars to be provided by [F3relevant lawyers]), and
section 750 (restrictions on particulars to be provided by banks).
Textual Amendments
F1Words in s. 748(4) substituted (1.1.2010) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 21 para. 158(a) (with ss. 29, 192, 193); S.I. 2009/3250, art. 2(h)
F2S. 748(4A) inserted (1.1.2010) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 21 para. 158(b) (with ss. 29, 192, 193); S.I. 2009/3250, art. 2(h)
F3Words in s. 748(5) substituted (1.1.2010) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 21 para. 158(c) (with ss. 29, 192, 193); S.I. 2009/3250, art. 2(h)
(1)In relation to anything done by a [F5relevant lawyer] on behalf of a client who does not consent to the information otherwise required from the [F5relevant lawyer] under section 748 being provided, the [F5relevant lawyer] may not be compelled under that section to do more than—
(a)state that the [F5relevant lawyer] is or was acting on behalf of a client, and
(b)give the name and address of the client and any relevant person.
(2)In the case of anything done by the [F5relevant lawyer] in connection with the transfer of any asset by or to an individual who is F6... UK resident to or by [F7a closely-held company whose business does not consist wholly or mainly of the carrying on of a trade or trades], the transferor and the transferee are relevant persons.
(3)In the case of anything done by the [F5relevant lawyer] in connection with any associated operation in relation to any such transfer, the persons concerned in the associated operations are relevant persons.
(4)In the case of anything done by the [F5relevant lawyer] in connection with the formation or management of [F8a closely-held company whose business does not consist wholly or mainly of the carrying on of a trade or trades], the body corporate is a relevant person.
(5)In the case of anything done by the [F5relevant lawyer] in connection with—
(a)the creation of any settlement as a result of which income becomes payable to a person abroad, or
(b)the execution of the trusts of any such settlement,
the settlor and that person are relevant persons.
F9(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F10(7)In this section—
“relevant lawyer” means a barrister, advocate, solicitor or other legal representative communications with whom may be the subject of a claim to professional privilege or, in Scotland, protected from disclosure in legal proceedings on grounds of confidentiality of communication;
“settlement” and “settlor” have the meanings given by section 620 of ITTOIA 2005.]
(8)In the application of this section to Scotland, any reference to the trusts of a settlement is a reference to the purposes of the settlement.
Textual Amendments
F4Words in s. 749 heading substituted (1.1.2010) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 21 para. 159(a) (with ss. 29, 192, 193); S.I. 2009/3250, art. 2(h)
F5Words in s. 749 substituted (1.1.2010) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 21 para. 159(b) (with ss. 29, 192, 193); S.I. 2009/3250, art. 2(h)
F6Word in s. 749(2) omitted (with effect in accordance with Sch. 46 para. 72 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 65(1) (with Sch. 46 paras. 65(2), 73)
F7Words in s. 749(2) substituted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(7)(a)
F8Words in s. 749(4) substituted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(7)(a)
F9S. 749(6) omitted (with effect in accordance with s. 22(10) of the amending Act) by virtue of Finance (No. 2) Act 2024 (c. 12), s. 22(7)(b)
F10S. 749(7) substituted (1.1.2010) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 21 para. 159(c) (with ss. 29, 192, 193); S.I. 2009/3250, art. 2(h)
(1)Section 748 does not oblige a bank to provide any particulars of any ordinary banking transactions between the bank and a customer carried out in the ordinary course of banking business, unless subsection (2) or (3) applies.
(2)This subsection applies if the bank has acted or is acting on behalf of the customer in connection with—
(a)the creation of any settlement as a result of which income becomes payable to a person abroad, or
(b)the execution of the trusts of any such settlement.
(3)This subsection applies if the bank has acted or is acting on behalf of the customer in connection with the formation or management of [F11a closely-held company whose business does not consist wholly or mainly of the carrying on of a trade or trades].
(4)In this section—
“bank” has the meaning given by section 991, and
“settlement” has the meaning given by section 620 of ITTOIA 2005.
(5)In the application of this section to Scotland, any reference to the trusts of a settlement is a reference to the purposes of the settlement.
Textual Amendments
F11Words in s. 750(3) substituted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(8)
[F13On any appeal that is notified to the tribunal, the jurisdiction of the tribunal] includes jurisdiction to affirm or replace any decision taken by an officer of Revenue and Customs in exercise of the officer's functions under—
[F14(za)section 720A(4) or 727A(4) (whether individual treated as involved in closely-held companies),]
(a)section 737 (exemption: all relevant transactions post-4 December 2005 transactions),
(b)section 738 (meaning of “commercial transaction”),
(c)section 739 (exemption: all relevant transactions pre-5 December 2005 transactions),
(d)section 742 (partial exemption where later associated operations fail conditions),
[F15(da)section 742A (post-5 April 2012 transactions: exemption for genuine transactions),]
(e)section 743(2) (no duplication of charges: choice of persons in relation to whom income is taken into account).
Textual Amendments
F12Words in s. 751 heading substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 461(2)
F13Words in s. 751 substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 461(3)
F14S. 751(za) inserted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(9)
F15S. 751(da) inserted (with effect in accordance with Sch. 10 para. 9(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 10 para. 8
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