Finance Act 2016

[F1 “Disclosable indirect tax arrangements” U.K.

Textual Amendments

F1 Sch. 18 para. 9A and cross-heading inserted (16.11.2017 for specified purposes, 1.1.2018 in so far as not already in force) by Finance (No. 2) Act 2017 (c. 32), s. 66(4), Sch. 17 para. 55(6)

9A (1) For the purposes of this Schedule arrangements are “disclosable indirect tax arrangements” at any time if at that time— U.K.

(a) the arrangements are notifiable arrangements for the purposes of Schedule 17 to FA 2017,

(b) the main benefit, or one of the main benefits that might be expected to arise from the arrangements is the obtaining of a tax advantage in relation to an indirect tax other than VAT (within the meaning of paragraph 7 of that Schedule), and

(c) a person—

(i) has provided information about the arrangements under paragraph 12(1), 17(2) or 18(2) of that Schedule, or

(ii) has failed to comply with any of those provisions in relation to the arrangements.

(2) But for the purposes of this Schedule arrangements in respect of which HMRC have given notice under paragraph 23(6) of Schedule 17 to FA 2016 (notice that promoters not under duty to notify client of reference number) are not to be regarded as “disclosable indirect tax arrangements”.

(3) For the purposes of sub-paragraph (1)(c) a person who would be required to provide information under paragraph 12(1) of Schedule 17—

(a) but for the fact that the arrangements implement a proposal in respect of which notice has been given under paragraph 11(1) of that Schedule, or

(b) but for paragraph 13, 14 or 15 of that Schedule,

is treated as providing the information at the end of the period referred to in paragraph 12(1).]