SCHEDULES

SCHEDULE 17Disclosure of tax avoidance schemes: VAT and other indirect taxes

PART 1Duties to disclose avoidance schemes etc

3“Notifiable arrangements” and “notifiable proposal”

1

“Notifiable arrangements” means any arrangements not excluded by sub-paragraph (2) which—

a

fall within any description prescribed by the Treasury by regulations,

b

enable, or might be expected to enable, any person to obtain a tax advantage in relation to any indirect tax that is so prescribed in relation to arrangements of that description, and

c

are such that the main benefit, or one of the main benefits, that might be expected to arise from the arrangements is the obtaining of that tax advantage.

2

Arrangements that meet the requirements in paragraphs (a) to (c) of sub-paragraph (1) are not notifiable arrangements if they implement a proposal which is excluded from being a notifiable proposal by sub-paragraph (4).

3

“Notifiable proposal” means a proposal for arrangements which, if entered into, would be notifiable arrangements (whether the proposal relates to a particular person or to any person who may seek to take advantage of it).

4

A proposal is not a notifiable proposal if any of the following occur before 1 January 2018—

a

a promoter first makes a firm approach to another person in relation to the proposal,

b

a promoter makes the proposal available for implementation by any other person, or

c

a promoter first becomes aware of any transaction forming part of arrangements implementing the proposal.