Finance Act 2021

11 (1) Section 313ZA (duty to provide details of clients) is amended as follows. U.K.

(2) In subsection (1), for paragraphs (a) and (b) substitute—

“(a) the promoter is subject to the requirement under section 312(2) to provide to the client prescribed information relating to the reference number allocated to—

(i) the arrangements, or

(ii) any arrangements substantially the same as the arrangements, or

(b) the promoter has failed to comply with section 308(1) or (3) in relation to the notifiable arrangements (or the notifiable proposal for them) but would be subject to that requirement if a reference number had been allocated to—

(i) the notifiable arrangements, or

(ii) any arrangements substantially the same as the arrangements”.

(3) After subsection (1) insert—

“(1A) This section also applies where—

(a) a person (“the provider”) is providing (or has provided) services to another person (“the client”) in connection with arrangements or proposed arrangements, and

(b) the provider is subject to the requirement under section 312ZA(2) to provide to the client prescribed information relating to the reference number allocated to—

(i) the arrangements or proposed arrangements, or

(ii) any arrangements substantially the same as the arrangements or proposed arrangements.”

(4) Omit subsection (2).

(5) In subsection (3), after “promoter” insert “ or (as the case may be) provider ”.

(6) For subsection (4) substitute—

“(4) In subsection (3) “the relevant period” means—

(a) in a case within subsection (1), such period as is prescribed and is a period during which the promoter is or would be subject to the requirement mentioned in that subsection;

(b) in a case within subsection (1A), such period as is prescribed and is a period during which the provider is or would be subject to the requirement mentioned in that subsection.”

(7) After subsection (5) insert—

“(6) The provider need not comply with subsection (3) in relation to any arrangements at any time after HMRC have given notice under section 312ZA(4) in relation to the arrangements.”