SCHEDULES
SCHEDULE 17Disclosure of tax avoidance schemes: VAT and other indirect taxes
PART 4Supplemental
Regulations
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1
Any power of the Treasury or the Commissioners to make regulations under this Schedule is exercisable by statutory instrument.
2
Regulations made under any such power may make different provision for different cases and may contain transitional provisions and savings.
3
A statutory instrument containing regulations made by the Treasury under paragraph 2(2) or 42(1) may not be made unless a draft of the instrument has been laid before and approved by a resolution of the House of Commons.
4
Any other statutory instrument containing regulations made under this Schedule, if made without a draft having been approved by a resolution of the House of Commons, is subject to annulment in pursuance of a resolution of the House of Commons.
Interpretation
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In this Schedule—
“arrangements” includes any scheme, transaction or series of transactions;
“the Commissioners” means the Commissioners for Her Majesty's Revenue and Customs;
“company” has the meaning given by section 1121 of the Corporation Tax Act 2010;
“HMRC” means Her Majesty's Revenue and Customs;
“indirect tax” has the meaning given by paragraph 2(1);
“introducer” is to be construed in accordance with paragraph 9;
“makes a firm approach” has the meaning given by paragraph 10(1);
“makes a marketing contact” has the meaning given by paragraph 10(2);
“marketing contact” has the meaning give by paragraph 10(2);
“notifiable arrangements” has the meaning given by paragraph 3(1);
“notifiable proposal” has the meaning given by paragraph 3(3);
“prescribed” (except in or in references to paragraph 3(1)(a)), means prescribed by regulations made by HMRC;
“promoter” is to be construed in accordance with paragraph 8;
“reference number”, in relation to notifiable arrangements, has the meaning given by paragraph 22(4);
“TCEA 2007” means the Tribunals, Courts and Enforcement Act 2007;
“tax advantage” means a tax advantage within the meaning of—
- a
paragraph 6 (in relation to VAT), or
- b
paragraph 7 (in relation to indirect taxes other than VAT);
- a
“trade” includes every venture in the nature of a trade;
“tribunal” means the First-tier tribunal, or where determined by or under Tribunal Procedure Rules, the Upper Tribunal;
“working day” means a day which is not a Saturday or a Sunday, Christmas Day, Good Friday or a bank holiday under the Banking and Financial Dealings Act 1971 in any part of the United Kingdom.