C1PART 5General anti-abuse rule
210C2Consequential relieving adjustments
1
This section applies where—
a
the counteraction of a tax advantage under section 209 is final, and
2
A person has 12 months, beginning with the day on which the counteraction becomes final, to make a claim for one or more consequential adjustments to be made in respect of any tax to which the general anti-abuse rule applies.
3
On a claim under this section, an officer of Revenue and Customs must make such of the consequential adjustments claimed (if any) as are just and reasonable.
4
Consequential adjustments—
a
may be made in respect of any period, and
b
may affect any person (whether or not a party to the tax arrangements).
5
But nothing in this section requires or permits an officer to make a consequential adjustment the effect of which is to increase a person's liability to any tax.
6
For the purposes of this section—
a
if the claim relates to income tax or capital gains tax, Schedule 1A to TMA 1970 applies to it;
b
if the claim relates to corporation tax, Schedule 1A to TMA 1970 (and not Schedule 18 to FA 1998) applies to it;
c
if the claim relates to petroleum revenue tax, Schedule 1A to TMA 1970 applies to it, but as if the reference in paragraph 2A(4) of that Schedule to a year of assessment included a reference to a chargeable period within the meaning of OTA 1975 (see section 1(3) and (4) of that Act);
d
if the claim relates to inheritance tax it must be made in writing to HMRC and section 221 of IHTA 1984 applies as if the claim were a claim under that Act;
e
if the claim relates to stamp duty land tax or annual tax on enveloped dwellings, Schedule 11A to FA 2003 applies to it as if it were a claim to which paragraph 1 of that Schedule applies.
7
Where an officer of Revenue and Customs makes a consequential adjustment under this section, the officer must give the person who made the claim written notice describing the adjustment which has been made.
8
For the purposes of this section the counteraction of a tax advantage is final when the adjustments made to effect the counteraction, and any amounts arising as a result of those adjustments, can no longer be varied, on appeal or otherwise.
9
Any adjustments required to be made under this section may be made—
a
by way of an assessment, the modification of an assessment, the amendment of a claim, or otherwise, and
b
despite any time limit imposed by or under any enactment other than this Part.
F310
For the purposes of subsection (1)(b), HMRC must be notified—
a
in a case where Schedule 43D applies, by the responsible partner (within the meaning of that Schedule), and
b
in any other case, by the person to whom the tax advantage would have arisen.
Pt. 5 extended (with effect in accordance with s. 10(7) of the amending Act) by National Insurance Contributions Act 2014 (c. 7), s. 10(1) (with s. 10(7))