Paragraph 3 F1

United Kingdom

(1)

This paragraph applies where a designated HMRC officer has given notices to the notified taxpayers in accordance with paragraph 1(2).

(2)

If none of the notified taxpayers has made a proposal under paragraph 2 by the end of the 30 day period mentioned in that paragraph, the officer must make a referral to the GAAR Advisory Panel in respect of the notified taxpayers and the arrangements which are specified arrangements in relation to them.

(3)

If at least one of the notified taxpayers makes a proposal in accordance with paragraph 2, the designated HMRC officer must, after the end of that 30 day period, decide whether to—

(a)

give a notice under paragraph 3 of Schedule 43 F2or paragraph 5 of Schedule 43D (as the case may be) in respect of one set of tax arrangements in the relevant pool F3in relation to which such a proposal has been made, or

(b)

make a referral to the GAAR Advisory Panel in respect of the tax arrangements in the relevant pool.

(F43A)

If under sub-paragraph (3)(a) a notice is given under paragraph 3 of Schedule 43 F5or paragraph 5 of Schedule 43D in respect of one set of tax arrangements but F6... the matter is not referred to the GAAR Advisory Panel, a designated officer must make a referral to the GAAR Advisory Panel in respect of the notified taxpayers and the arrangements which are specified arrangements in relation to them.

(4)

A referral under this paragraph is a “generic referral”.

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. 3(3)(a) inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 12(3)(a)
F3: Words in Sch. 43B para. 3(3)(a) inserted (5.12.2017) by The General Anti-Abuse Rule Procedure (Amendment) Regulations 2017 (S.I. 2017/1090), regs. 1, 13(2)
F4: Sch. 43B para. 3(3A) inserted (5.12.2017) by The General Anti-Abuse Rule Procedure (Amendment) Regulations 2017 (S.I. 2017/1090), regs. 1, 13(3)
F5: Words in Sch. 43B para. 3(3A) inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 12(3)(b)
F6: Words in Sch. 43B para. 3(3A) omitted (with effect in accordance with s. 124(2) of the amending Act) by virtue of Finance Act 2021 (c. 26), Sch. 32 para. 12(3)(c)