242Power to require information where section 240 or 241 applies or could have appliedU.K.
(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).