There are currently no known outstanding effects for the Finance (No. 2) Act 2017, Paragraph 29.
29(1)Where HMRC suspect that a person (P) is the promoter or introducer of a proposal, or the promoter of arrangements, which may be notifiable, they may by written notice require P to state—U.K.
(a)whether in P's opinion the proposal or arrangements are notifiable by P, and
(b)if not, the reasons for P's opinion.
(2)The notice must specify the proposal or arrangements to which it relates.
(3)For the purposes of sub-paragraph (1)(b)—
(a)it is not sufficient to refer to the fact that a lawyer or other professional has given an opinion,
(b)the reasons must show, by reference to this Part of this Schedule and regulations under it, why P thinks the proposal or arrangements are not notifiable by P, and
(c)in particular, if P asserts that the arrangements do not fall within any description prescribed under paragraph 3(1)(a), the reasons must provide sufficient information to enable HMRC to confirm the assertion.
(4)P must comply with a requirement under or by virtue of sub-paragraph (1) within—
(a)the relevant period, or
(b)such longer period as HMRC may direct.
(5)In sub-paragraph (4) “the relevant period” is the period of 11 days beginning with the day on which the notice under sub-paragraph (1) is issued.
Commencement Information
I1Sch. 17 para. 29 in force at Royal Assent for specified purposes and at 1.1.2018 otherwise, see s. 66(4)
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
