F1Client notification obligations

Annotations:
Amendments (Textual)

Making client exchange of tax information client notifications12F

1

A client exchange of tax information notification is made to a specified client or an individual to whom regulation 12E(2) applies if—

a

it is in the form set out in Part 1 of Schedule 3,

b

it is accompanied by a covering message which includes—

i

the name of the specified client, and

ii

the statement set out in the relevant paragraph of Part 2 of that Schedule, and

c

it is given in accordance with paragraph (3) or (4).

2

The relevant paragraph in Part 2 of Schedule 3 is—

a

paragraph 2 in the case of a client exchange of tax information notification made by a specified financial institution or an overseas person who would be a specified financial institution if they carried on business in the United Kingdom, or

b

paragraph 3 in the case of a client exchange of tax information notification made by a specified relevant person or an overseas person who would be a specified relevant person if they carried on business in the United Kingdom.

3

A client exchange of tax information notification is given in accordance with this paragraph if it is sent or supplied in a paper copy.

4

A client exchange of tax information notification is given in accordance with this paragraph if it is given by email by a specified relevant person who—

a

wholly or mainly communicated with individuals by e-mail when providing advice or services to them in the relevant period, and

b

reasonably believes that the specified client will become aware of the content of a client exchange of tax information notification given to them by e-mail.

5

If it appears appropriate to a specified financial institution, a specified relevant person or an overseas person, the client exchange of tax information notification and covering message set out in Schedule 3 may be translated into a language other than English or produced in a Braille or audible form.