Finance (No. 2) Act 2015

10 (1) Where a hold notice is given to a deposit-taker, a person within sub-paragraph (2) may by a notice given to HMRC (a “notice of objection”) object against the hold notice. E+W+N.I.

(2) The persons who may object are—

(a) P,

(b) any interested third party in relation to an affected account, and

(c) any person (not falling within paragraph (a) or (b)) who is a holder of an affected account which is a joint account,

but only P may object on the ground in sub-paragraph (3)(a).

(3) An objection may only be made on one or more of the following grounds—

(a) that the debts to which the hold notice relates (see paragraph 8(7)(a)) have been wholly or partly paid,

(b) that at the time when the hold notice was given, either there was no sum that was a relevant sum in relation to P or P did not hold any account with the deposit-taker,

(c) that the hold notice is causing or will cause exceptional hardship to the person making the objection or another person, or

(d) that there is an interested third party in relation to one or more of the affected accounts.

(4) A notice of objection must state the grounds of the objection.

(5) Objections under this paragraph may only be made within the period of 30 days beginning with—

(a) in the case of—

(i) P, or

(ii) a person within sub-paragraph (2)(b) or (c) who has not been given a notice under paragraph 8(6)(b),

the day on which a copy of the hold notice is given to P under paragraph 8(6)(a), and

(b) in the case of a person given a notice under paragraph 8(6)(b), the day on which that notice is given.

(6) Sub-paragraph (5) does not apply if HMRC agree to the notice of objection being given after the end of the period mentioned in that sub-paragraph.

(7) HMRC must agree to a notice of objection being given after the end of that period if the following conditions are met—

(a) the person seeking to make the objection has made a request in writing to HMRC to agree to the notice of objection being given;

(b) HMRC is satisfied that there was reasonable excuse for not giving the notice before the relevant time limit, and

(c) HMRC is satisfied that the person complied with paragraph (a) without unreasonable delay after the reasonable excuse ceased.

(8) If a request of the kind referred to in sub-paragraph (7)(a) is made, HMRC must by a notice inform the person making the request whether or not HMRC agrees to the request.

(9) Nothing in Part 5 of TMA 1970 (appeals and other proceedings) applies to an objection under this paragraph.