Part 13Tax avoidance
C1C2Chapter 2Transfer of assets abroad
Pt. 13 Ch. 2 applied (with effect in accordance with art. 1(2)(3) Sch. 1 of the amending S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 21
Supplementary
749Restrictions on particulars to be provided by F1relevant lawyers
1
In relation to anything done by a F2relevant lawyer on behalf of a client who does not consent to the information otherwise required from the F2relevant lawyer under section 748 being provided, the F2relevant lawyer may not be compelled under that section to do more than—
a
state that the F2relevant lawyer is or was acting on behalf of a client, and
b
give the name and address of the client and any relevant person.
2
In the case of anything done by the F2relevant lawyer in connection with the transfer of any asset by or to an individual who is ordinarily UK resident to or by a body corporate to which subsection (6) applies, the transferor and the transferee are relevant persons.
3
In the case of anything done by the F2relevant lawyer in connection with any associated operation in relation to any such transfer, the persons concerned in the associated operations are relevant persons.
4
In the case of anything done by the F2relevant lawyer in connection with the formation or management of a body corporate to which subsection (6) applies, the body corporate is a relevant person.
5
In the case of anything done by the F2relevant lawyer in connection with—
a
the creation of any settlement as a result of which income becomes payable to a person abroad, or
b
the execution of the trusts of any such settlement,
the settlor and that person are relevant persons.
6
This subsection applies to bodies corporate resident or incorporated outside the United Kingdom which—
a
are, or if UK resident would be, close companies, and
b
are not companies whose business consists wholly or mainly of the carrying on of a trade or trades.
F37
In this section—
“relevant lawyer” means a barrister, advocate, solicitor or other legal representative communications with whom may be the subject of a claim to professional privilege or, in Scotland, protected from disclosure in legal proceedings on grounds of confidentiality of communication;
“settlement” and “settlor” have the meanings given by section 620 of ITTOIA 2005.
8
In the application of this section to Scotland, any reference to the trusts of a settlement is a reference to the purposes of the settlement.
Pt. 13 Ch. 2 applied by 1988 c. 1, s. 762ZA (as inserted (21.7.2008 with effect in accordance with Sch. 7 para. 98 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 94)