# Finance Act 2014, Section 275: Failure to comply with Part 7 of the Finance Act 2004


In section 98C of TMA 1970 (notification under Part 7 of FA 2004), after subsection (2E) insert—
“(2EA) Where a person fails to comply with—
(a) section 309 of that Act and the promoter for the purposes of that section is a monitored promoter for the purposes of Part 5 of the Finance Act 2014, or
(b) section 310 of that Act and the arrangements for the purposes of that section are arrangements of such a monitored promoter,
then for the purposes of section 118(2) of this Act legal advice which the person took into account is to be disregarded in determining whether the person had a reasonable excuse, if the advice was given or procured by that monitored promoter.
(2EB) In determining for the purpose of section 118(2) of this Act whether or not a person who is a monitored promoter within the meaning of Part 5 of the Finance Act 2014 had a reasonable excuse for a failure to do anything required to be done under a provision mentioned in subsection (2), reliance on legal advice is to be taken automatically not to constitute a reasonable excuse if either—
(a) the advice was not based on a full and accurate description of the facts, or
(b) the conclusions in the advice that the person relied on were unreasonable.”

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Source: https://www.legislation.gov.uk/ukpga/2014/26/section/275 (the official version)
Page: https://openlegislation.uk/finance-act-2014/section-275
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.