[F163(1)An officer of Revenue and Customs may, by notice, require a third party—U.K.
(a)to provide information, or
(b)to produce a document,
if the information or document is reasonably required by the officer for the purpose of checking an interest restriction return for, or exercising any of the powers under this Part of this Act in relation to, a period of account of a worldwide group.
(2)A person is a “third party” if the person is not a group member at any time in the period of account.
(3)A notice may not be given under this paragraph unless—
(a)a company which is a UK group company of the group at any time in the period of account agrees to the giving of the notice, or
(b)on an application made by an officer of Revenue and Customs, the tribunal approves the giving of the notice.
(4)The tribunal may not approve the giving of a notice to a third party unless—
(a)the tribunal is satisfied that, in the circumstances, the officer giving the notice is justified in doing so, and
(b)either the requirements of sub-paragraph (5) are met or the tribunal is satisfied that it is appropriate to dispense with meeting those requirements because to meet them might prejudice the assessment or collection of tax.
(5)The requirements in this sub-paragraph are met if—
(a)the third party has been told that the information or documents referred to in the notice are required,
(b)the third party has been given a reasonable opportunity to make representations to an officer of Revenue and Customs,
(c)the tribunal has been given a summary of any representations made by the third party, and
(d)a company which is a UK group company of the group at any time in the period of account has been given a summary of the reasons why the information and documents are required.
(6)Sub-paragraph (5)(d) does not apply if an officer of Revenue and Customs has insufficient information to identify a company mentioned in that paragraph.
(7)No notice of the application for the approval of the tribunal needs to be given to the third party by an officer of Revenue and Customs.
(8)A notice under this paragraph to the third party must give details of the worldwide group unless—
(a)the notice is approved by the tribunal, and
(b)the tribunal is satisfied that no details should be given because to do so might seriously prejudice the assessment or collection of tax.
(9)An officer of Revenue and Customs must give a copy of a notice under this paragraph to a company which is a UK group company of the group at any time in the period of account unless—
(a)the tribunal has approved the notice and is satisfied that no copy should be given because to do so might prejudice the assessment or collection of tax, or
(b)an officer of Revenue and Customs has insufficient information to identify such a company.
(10)A decision of the tribunal under this paragraph is final (despite the provisions of sections 11 and 13 of the Tribunals, Courts and Enforcement Act 2007).
(11)A notice under this paragraph—
(a)may specify or describe the information or documents to be provided or produced, and
(b)if given with the approval of the tribunal, must state that fact.]
Textual Amendments
F1Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)