SCHEDULE 16Penalties for enablers of defeated tax avoidance
PART 7GAAR Advisory Panel opinion, and representations
Notice where Panel opinion already obtained in relation to equivalent arrangements
25
(1)
This paragraph applies where a designated HMRC officer is of the view that—
(a)
a person is liable to a penalty under paragraph 1 in relation to particular arrangements (“the arrangements concerned”),
(b)
no GAAR final decision notice has been given in relation to those arrangements, but those arrangements are equivalent to arrangements in relation to which a GAAR final decision notice has been given (“the GAAR decision arrangements”), and
(c)
accordingly, the opinion of the GAAR Advisory Panel which was considered by HMRC in preparing that GAAR final decision notice is relevant to the arrangements concerned.
(2)
A designated HMRC officer must give the person mentioned in sub-paragraph (1) a notice in writing—
(a)
explaining that the officer is of the view mentioned there,
(b)
specifying the arrangements concerned,
(c)
describing the material characteristics of the GAAR decision arrangements,
(d)
setting out a report prepared by HMRC of the opinion of the GAAR Advisory Panel which was considered by HMRC in preparing the GAAR final decision notice, and
(e)
explaining the effect of sub-paragraphs (3) and (4).
(3)
A person to whom a notice under this paragraph is given has 30 days, beginning with the day on which the notice is given, to send to the designated HMRC officer (in writing) any representations that that person wishes to make as to why the arrangements concerned are not equivalent to the GAAR decision arrangements.
(4)
A designated HMRC officer may, on a written request by that person, extend the period during which representations may be made by that person.
(5)
Paragraph 24 contains definitions of the following terms used in this paragraph—
“GAAR final decision notice”;
“equivalent”, in relation to arrangements.