SCHEDULES

SCHEDULE 34Promoters of tax avoidance schemes: threshold conditions

PART 1Meeting the threshold conditions: general

7Opinion notice of GAAR Advisory Panel

A person meets this condition if—

a

arrangements in relation to which the person is a promoter have been referred to the GAAR Advisory Panel under Schedule 43 to FA 2013,

b

one or more opinion notices are given in relation to the arrangements under paragraph 11(3)(b) of that Schedule (opinion of sub-panel of GAAR Advisory Panel that arrangements are not reasonable), and

c

the notice, or the notices taken together, either—

i

state the joint opinion of all the members of the sub-panel arranged under paragraph 10 of that Schedule, or

ii

state the opinion of two or more members of that sub-panel.