2010 No. 410
The Tax Avoidance Schemes (Information) (Amendment) Regulations 2010
Made
Laid before the House of Commons
Coming into force
The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by sections 310 and 313 of the Finance Act 20041:
Citation and Commencement1
These Regulations may be cited as the Tax Avoidance Schemes (Information) (Amendment) Regulations 2010 and come into force on 1st April 2010.
Amendment of the Tax Avoidance Schemes (Information) Regulations 2004
2
Amend the Tax Avoidance Schemes (Information) Regulations 20042 as follows.
3
1
In regulation 4(5) (time for providing information under section 308, 308A, 309 or 310)3 for “paragraphs (5ZA) and (5A)” substitute “paragraph (5A)”.
2
Omit regulation 4(5ZA).
4
1
Amend regulation 84 as follows.
2
In paragraph (1) for “or (5)” substitute “, (5) or (5A)”.
3
In paragraph (3)(a) for “(14)” substitute “(14A)”.
4
After paragraph (5) insert—
5A
In the case prescribed at paragraph (14A) the prescribed information is—
a
the name and address of the purchaser;
b
the reference number (or, if more than one, any one reference number) allocated under the provisions of section 311;
c
the address of the property forming the subject of the arrangements (“the property”);
d
the title number of the property (if any is allocated);
e
the unique transaction reference number5(if a land transaction return has been submitted to HMRC at the time the prescribed information is provided);
f
the market value of the property, taking into account all chargeable interests in the property held by the same person or connected persons;
g
the effective date of the first land transaction which forms part of the arrangements;
h
the name of the person providing the declaration as to the accuracy and completeness of the notification; and
i
the capacity in which that person is acting.
5
In paragraph (8) after “(13)” insert “and (14A)”.
6
After paragraph (14) insert—
14A
In a case where a purchaser expects an advantage to arise in respect of his liability to pay, entitlement to a repayment of, or to a deferment of his liability to pay stamp duty land tax as a result of notifiable arrangements the prescribed information shall be provided separately to HMRC in such form and manner as they may specify by the time in paragraph (15).
14B
If paragraph (14A) applies in relation to a land transaction entered into as purchaser by or on behalf of a partnership notification of the prescribed information by or in relation to the responsible partners may instead be done by or in relation to a representative partner or partners.
7
In paragraph (15)—
a
for “(14)” substitute “(14A)”;
b
after sub-paragraph (d) insert—
e
in the case of paragraph (14A) no later than 30 days following the later of—
i
the effective date of the first land transaction which forms part of the arrangements; or
ii
the receipt of the reference number allocated under the provisions of section 311.
8
After paragraph (16) insert—
16A
In paragraphs (5A), (14A), (14B) and (15), expressions which are used in Part 4 of the Finance Act 20036 have the same meaning as in that Part.
9
Omit paragraph (17).
(This note is not part of the Regulations)