
Print Options
PrintThe Whole
Act
PrintThe Whole
Part
PrintThe Whole
Chapter
PrintThe Whole
Cross Heading
PrintThis
Section
only
Changes over time for: Section 242


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 06/04/2007.
Changes to legislation:
There are currently no known outstanding effects for the Income Tax Act 2007, Section 242.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
242Power to require information where section 240 or 241 applies or could have appliedU.K.
This section has no associated Explanatory Notes
(1)This section applies if an officer of Revenue and Customs has reason to believe that a person—
(a)has not given a notice which the person is required to give under section 240 or 241 in respect of any event,
(b)has given or received value within the meaning of section 216(2) or (6) which, but for the fact that the amount given or received was an amount of insignificant value, would have triggered a requirement to give such a notice, or
(c)has made or received any repayment within the meaning given by section 224(7) which, but for the fact that it falls to be ignored for the purposes of section 224 by virtue of section 225(1), would have triggered a requirement to give a notice under section 241.
(2)The officer may by notice require the person concerned to supply the officer, within such time as the officer may specify in the notice, with such information relating to the event as the officer may reasonably require for the purposes of this Part.
(3)The period specified in a notice under subsection (2) must be at least 60 days.
(4)In subsection (1)(b) the reference to an amount of insignificant value is construed in accordance with section 215(2).
Back to top