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
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.