Finance Act 2013

[F1 Notice of proposal to make generic referral of tax arrangements U.K.

Textual Amendments

F1 Sch. 43B inserted (15.9.2016 with effect in accordance with s. 157(30) of the amending Act) by Finance Act 2016 (c. 24), s. 157(3)

1 (1) Sub-paragraph (2) applies if— U.K.

[F2 (a) further to pooling notices given under paragraph 1(3) of Schedule 43A, two or more sets of tax arrangements are in a pool relating to any lead arrangements,

(b) the person to whom the notice mentioned in paragraph 1(1) of Schedule 43A was given takes the relevant corrective action (as defined in paragraph 4A of Schedule 43) before—

(i) the end of the period of 75 days beginning with the day on which that notice was given, or

(ii) such later time as that person and HMRC may agree, and]

(c) no referral under paragraph 5 or 6 of Schedule 43 has been made in respect of any arrangements in the pool.

(2) A designated HMRC officer may determine that, in respect of each of the tax arrangements that are in the pool, there is to be given (to the person to whom the pooling notice in question was given) a written notice of a proposal to make a generic referral to the GAAR Advisory Panel in respect of the arrangements in the pool.

(3) Only one determination under sub-paragraph (2) may be made in relation to any one pool.

(4) The persons to whom those notices are given are “the notified taxpayers”.

(5) A notice given to a person (“T”) under sub-paragraph (2) must—

(a) specify the arrangements (the “specified arrangements”) and the tax advantage (the “specified advantage”) to which the notice relates,

(b) inform T of the period under paragraph 2 for making a proposal.

Textual Amendments

F2 Sch. 43B para. 1(1)(a)(b) substituted (5.12.2017) by The General Anti-Abuse Rule Procedure (Amendment) Regulations 2017 (S.I. 2017/1090), regs. 1, 12(2)

2 (1) T has 30 days beginning with the day on which the notice under paragraph 1 is given to propose to HMRC that it— U.K.

(a) should give T a notice under paragraph 3 of Schedule 43 [F3 or paragraph 5 of Schedule 43D (as the case may be)] in respect of the arrangements to which the notice under paragraph 1 relates, and

(b) should not proceed with the proposal to make a generic referral to the GAAR Advisory Panel in respect of those arrangements.

(2) If a proposal is made in accordance with sub-paragraph (1) a designated HMRC officer must consider it.]

Textual Amendments

F3 Words in Sch. 43B para. 2(1)(a) inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 12(2)