Paragraph 26 I1

(1)

Any person (P) who is a party to any F1... arrangements must provide HMRC with prescribed information relating to—

(a)

any reference number notified to P under paragraph 23 F2, 23A or 24, and

(b)

the time when P obtains or expects to obtain by virtue of the arrangements a tax advantage in relation to any relevant tax.

(2)

For the purposes of sub-paragraph (1) a tax is a “relevant tax” in relation to F3arrangements of any description if it is prescribed in relation to arrangements of that description by regulations under paragraph 3(1).

(3)

Regulations made by the Commissioners may—

(a)

in prescribed cases, require the information prescribed under sub-paragraph (1) to be given to HMRC—

(i)

in the prescribed manner,

(ii)

in the prescribed form,

(iii)

at the prescribed time, and

(b)

in prescribed cases, require the information prescribed under sub-paragraph (1) and such other information as is prescribed to be provided separately to HMRC at the prescribed time or times.

(4)

In sub-paragraph (3) “prescribed” includes being prescribed in a document made under a power conferred by regulations made by the Commissioners.

(5)

HMRC may give notice that, in relation to F4... arrangements specified in the notice, persons are not under the duty under sub-paragraph (1) after the date specified in the notice.

(6)

The duty under sub-paragraph (1) does not apply in prescribed circumstances.

Annotations

Textual amendments

F1: Word in Sch. 17 para. 26(1) omitted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by virtue of Finance Act 2021 (c. 26), Sch. 31 paras. 31(2), 44
F2: Word in Sch. 17 para. 26(1)(a) inserted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by Finance Act 2021 (c. 26), Sch. 31 paras. 31(3), 44
F3: Words in Sch. 17 para. 26(2) substituted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by Finance Act 2021 (c. 26), Sch. 31 paras. 31(4), 44
F4: Word in Sch. 17 para. 26(5) omitted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by virtue of Finance Act 2021 (c. 26), Sch. 31 paras. 31(5), 44

Commencement

I1: Sch. 17 para. 26 in force at Royal Assent for specified purposes and at 1.1.2018 otherwise, see s. 66(4)

Notes on Schedule 17

Modifications

C1: Sch. 17 modified (17.12.2020 for specified purposes, 31.12.2020 in so far as not already in force) by 1994 c. 23, Sch. 9ZA para. 80 (as inserted by Taxation (Post-transition Period) Act 2020 (c. 26), s. 11(1)(e), Sch. 2 para. 2 (with s. 3(4), Sch. 2 para. 7(7)-(10)); S.I. 2020/1642, reg. 9)

Notes on Duty of parties to notify HMRC of reference number etc

Textual amendments

F1: Sch. 17 para. 26 cross-heading substituted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by Finance Act 2021 (c. 26), Sch. 31 paras. 30, 44