Finance Act 2003

Relevant trustees for purposes of return etc U.K.

6 (1) A return F1 ... in relation to a land transaction may be made or given by any one or more of the trustees who are the responsible trustees in relation to the transaction. U.K.

The trustees by whom such a return F1 ... is made are referred to below as “the relevant trustees”.

(2) The declaration required by paragraph 1(1)(c) of Schedule 10 F2 ... (declaration that return F2 ... is complete and correct) must be made by all the relevant trustees.

(3) If the Inland Revenue give notice of an enquiry into the return F3 ...—

(a) the notice must be given to each of the relevant trustees,

(b) the powers of the Inland Revenue as to the production of documents and provision of information for the purposes of the enquiry are exercisable separately (and differently) in relation to each of the relevant trustees,

(c) any of the relevant trustees may apply for a direction that a closure notice be given (and all of them are entitled to appear and be heard on the application), and

(d) the closure notice must be given to each of the relevant trustees.

Provided that a notice is not invalidated by virtue of paragraph (a) or (d) if it is given to each of the relevant trustees whose identity is known to the Inland Revenue.

(4) A Revenue determination or discovery assessment relating to the transaction must be made against all of the relevant trustees and is not effective against any of them unless notice of it is given to each of them whose identity is known to the Inland Revenue.

(5) In the case of an appeal arising from proceedings under this Part relating to the transaction—

(a) the appeal may be brought by any of the relevant trustees,

(b) notice of the appeal must be given to any of them by whom it is not brought,

(c) the agreement of all the relevant trustees is required if the appeal is to be settled by agreement,

(d) if it is not settled, any of them are entitled to appear and be heard, and

(e) the decision on the appeal binds all of them.

Textual Amendments

F1 Words in Sch. 16 para. 6(1) omitted (with effect in accordance with s. 94(5) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 30 para. 13(2)

F2 Words in Sch. 16 para. 6(2) omitted (with effect in accordance with s. 94(5) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 30 para. 13(3)

F3 Words in Sch. 16 para. 6(3) omitted (with effect in accordance with s. 94(5) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 30 para. 13(2)