Paragraph 2 F1
T has 30 days beginning with the day on which the notice under paragraph 1 is given to propose to HMRC that it—
should give T a notice under paragraph 3 of Schedule 43 F2or paragraph 5 of Schedule 43D (as the case may be) in respect of the arrangements to which the notice under paragraph 1 relates, and
should not proceed with the proposal to make a generic referral to the GAAR Advisory Panel in respect of those arrangements.
If a proposal is made in accordance with sub-paragraph (1) a designated HMRC officer must consider it.
Annotations
Textual amendments
- F1
Sch. 43B inserted (15.9.2016 with effect in accordance with s. 157(30) of the amending Act) by Finance Act 2016 (c. 24), s. 157(3)
- F2
Words in Sch. 43B para. 2(1)(a) inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 12(2)