Paragraph 50 I1
Where a person fails to comply with—
paragraph 17(2) and the promoter for the purposes of paragraph 17 is a monitored promoter, or
paragraph 18(2) and the arrangements for the purposes of paragraph 18 are arrangements of a monitored promoter,
then for the purposes of paragraph 48 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.
In determining for the purpose of paragraph 48 whether or not a person who is a monitored promoter had a reasonable excuse for a failure to do something, reliance on legal advice is to be taken automatically not to constitute a reasonable excuse if either—
the advice was not based on a full and accurate description of the facts, or
the conclusions in the advice that the person relied on were unreasonable.
In this paragraph “monitored promoter” means a person who is a monitored promoter for the purposes of Part 5 of FA 2014
Annotations
Commencement
- I1
Sch. 17 para. 50 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)