26(1)Any person (P) who is a party to any ... arrangements must provide HMRC with prescribed information relating to—U.K.
(a)any reference number notified to P under paragraph 23 [, 23A] or 24, and
(b)the time when P obtains or expects to obtain by virtue of the arrangements a tax advantage in relation to any relevant tax.
(2)For the purposes of sub-paragraph (1) a tax is a “relevant tax” in relation to [arrangements of any description] if it is prescribed in relation to arrangements of that description by regulations under paragraph 3(1).
(3)Regulations made by the Commissioners may—
(a)in prescribed cases, require the information prescribed under sub-paragraph (1) to be given to HMRC—
(i)in the prescribed manner,
(ii)in the prescribed form,
(iii)at the prescribed time, and
(b)in prescribed cases, require the information prescribed under sub-paragraph (1) and such other information as is prescribed to be provided separately to HMRC at the prescribed time or times.
(4)In sub-paragraph (3) “prescribed” includes being prescribed in a document made under a power conferred by regulations made by the Commissioners.
(5)HMRC may give notice that, in relation to ... arrangements specified in the notice, persons are not under the duty under sub-paragraph (1) after the date specified in the notice.
(6)The duty under sub-paragraph (1) does not apply in prescribed circumstances.
Textual Amendments
Commencement Information