PART 2 Provision corresponding to Part 7 of the Finance Act 2004

Meaning of “notifiable contribution arrangements and “notifiable contribution proposal”

5.  In this Part—

“notifiable contribution arrangements” means any arrangements which —

(a)

enable, or might be expected to enable, any person to obtain an advantage in relation to a contribution, and

(b)

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 advantage;

“notifiable contribution proposal” means a proposal for arrangements which, if entered into, would be notifiable contribution arrangements (whether the proposal relates to a particular person or to any person who may seek to take advantage of it)(1).

(1)

The definitions of “notifiable contribution arrangements” and “notifiable contribution proposal” are set out in section 132A(3) of the Social Security Administration Act 1992.