Threshold conditionsU.K.
28U.K.Schedule 34 (threshold conditions) is amended as follows.
29(1)Paragraph 5 (non-compliance with Part 7 of FA 2004) is amended in accordance with sub-paragraphs (2) to (7).U.K.
(2)In the heading, for “Part 7 of FA 2004” substitute “ avoidance disclosure requirements ”.
(3)Before sub-paragraph (1) insert—
“(A1)A person meets this condition if the person fails to comply with any of the following provisions of—
(a)Part 7 of FA 2004 (disclosure of tax avoidance schemes);
(b)Schedule 17 to F(No. 2)A 2017 (disclosure of tax avoidance schemes: VAT and other indirect taxes).”
(4)In sub-paragraph (1)—
(a)for the words before paragraph (a) substitute “ The provisions of Part 7 of FA 2004 are— ”;
(b)after paragraph (c) insert—
“(ca)section 310C (duty of promoter to provide updated information);
(cb)section 312(2) (duty of promoter to notify client of reference number);”;
(c)after paragraph (d) insert—
“(e)section 316A (duty to provide additional information).”
(5)After sub-paragraph (1) insert—
“(1A)The provisions of Schedule 17 to F(No.2)A 2017 are—
(a)paragraph 11(1) (duty of promoter in relation to notifiable proposals);
(b)paragraph 21(3) (duty of promoter to provide updated information);
(c)paragraph 23(2) (duty of promoter to notify client of reference number);
(d)paragraph 27(3) (duty of promoter to provide details of clients);
(e)paragraph 33 (duty to provide additional information).”
(6)In sub-paragraph (2)—
(a)for “sub-paragraph (1)” substitute “ sub-paragraphs (1) and (1A) ”;
(b)for “that sub-paragraph” substitute “ any of those sub-paragraphs ”.
(7)In sub-paragraph (4), after “TMA 1970” insert “ or paragraph 48 of Schedule 17 to F(No.2)A 2017 ”.
30U.K.In paragraph 7—
(a)before the existing text, insert—
“(1)A person meets this condition if one or more of sub-paragraphs (2) to (4) apply in respect of the person.”;
(b)the existing text becomes sub-paragraph (2);
(c)in that sub-paragraph (2), for “A person meets this condition if” substitute “ This sub-paragraph applies in respect of a person if ”;
(d)after that sub-paragraph, insert—
“(3)This sub-paragraph applies in respect of a person (“P”) if—
(a)another person has been given, in respect of arrangements in relation to which P is a promoter (“the promoted arrangements”)—
(i)a pooled arrangements opinion notice, under paragraph 6(2) of Schedule 43A to FA 2013, or
(ii)a bound arrangements opinion notice under paragraph 6(4) of that Schedule,
(b)the notice in question sets out a report prepared by HMRC of an opinion of the GAAR Advisory Panel in relation to the promoted arrangements that is contained in one or more opinion notices given under paragraph 11(3)(b) of Schedule 43 to FA 2013 or paragraph 6(4)(b) of Schedule 43B to FA 2013, and
(c)the opinion notice, or the opinion notices taken together, either—
(i)state the joint opinion of all the members of the sub-panel arranged under Schedule 43 or 43B, as the case may be, or
(ii)state the opinion of two or more members of the sub-panel.
(4)This sub-paragraph applies in respect of a person if—
(a)arrangements in relation to which the person is a promoter (“the promoted arrangements”) are equivalent within the meaning of paragraph 24(3) of Schedule 16 to F(No. 2)A 2017 to arrangements that have been referred to the GAAR Advisory Panel under paragraph 26 of that Schedule,
(b)one or more opinion notices are given under paragraph 34(3)(b) of Schedule 16 to F(No.2)A 2017 that apply to the promoted arrangements for the purposes of Part 7 of that Schedule, and
(c)the notice, or the notices taken together, either—
(i)state the joint opinion of all the members of the sub-panel arranged under that Schedule, or
(ii)state the opinion of two or more members of that sub-panel.”
31U.K.In paragraph 10 (exercise of information powers)—
(a)in sub-paragraph (1), for the words from “an information notice” to the end substitute “a requirement imposed by a notice or order given under any of the following provisions—
(a)section 308A, 310A, 313ZB, 313A and 313B of FA 2004;
(b)paragraphs 1, 2, 5 and 5A of Schedule 36 to FA 2008;
(c)paragraphs 16, 19, 28, 29 and 30 of Schedule 17 to F(No.2)A 2017.”
(b)in sub-paragraph (2), after “notice” insert “ or order ”.