The Tax Avoidance Schemes (Information) (Amendment) (No. 2) Regulations 2007 No. 3103

Amendment of the Tax Avoidance Schemes (Information) Regulations 2004

3.  After regulation 8A(1) insert—

“Higher rate of penalty following a failure to comply with an order under section 314A

8B.   For the purposes of section 98C(2B) of the Taxes Management Act 1970 (higher rate of penalty after the making of an order under section 314A(2)) the prescribed period is 10 days beginning with the date on which the order is made.”.

(1)

Regulation 8A was inserted into SI 2004/1864 by SI/2007/2153.

(2)

i.e. section 314A of the Finance Act 2004, inserted by section 108(6) of the Finance Act 2007.