# Finance (No. 2) Act 2017, Paragraph 50


(1) Where a person fails to comply with—
(a) paragraph 17(2) and the promoter for the purposes of paragraph 17 is a monitored promoter, or
(b) 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.
(2) 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—
(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.
(3) In this paragraph “monitored promoter” means a person who is a monitored promoter for the purposes of Part 5 of FA 2014

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Source: https://www.legislation.gov.uk/ukpga/2017/32/schedule/17/paragraph/50 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2017/schedule-17/paragraph-50
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.