Finance Act 2004 (c. 12)

Part 7 U.K. Disclosure of tax avoidance schemes

Modifications etc. (not altering text)

C1 Pt. 7 excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 13(b)

[F1 313A Pre-disclosure enquiry U.K.

(1) Where HMRC suspect that a person (P) is the promoter [F2 or introducer of a proposal, or the promoter of arrangements,] which may be notifiable, they may by written notice require P to state—

(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) A notice must specify the proposal or arrangements to which it relates.

(3) For the purpose of subsection (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 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 section 306(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 subsection (1) within—

(a) the prescribed period, or

(b) such longer period as HMRC may direct.]

Textual Amendments

F1 Ss. 313A, 313B inserted (19.7.2007) by Finance Act 2007 (c. 11), s. 108(5) (with s. 108(10))

F2 Words in s. 313A(1) substituted (1.1.2011) by Finance Act 2010 (c. 13), Sch. 17 para. 4; S.I. 2010/3019, art. 2