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Paragraph 49

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

If F1an officer of Revenue and Customs F2does not give a notice of enquiry, the requirements of this Schedule are taken to be met in relation to the option.

(2)

If an officer of Revenue and Customs does give a notice of enquiry, F3the officer's decision stated in the closure notice is conclusive as to whether the requirements of this Schedule are met in relation to the option.

(3)

But this is subject—

(a)

if the officer's decision is that the requirements are not met, to the outcome of any appeal against that decision under paragraph 50;

(b)

if their decision is that the requirements are met, to the outcome of any subsequent enquiry under paragraph 46(6) (enquiry arising from discovery of false or misleading information).

(4)

This paragraph does not affect the provisions of sections 532 to 539 (which relate to disqualifying events).

Annotations

Textual amendments

F1

Words in Act substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 102(1); S.I. 2005/1126, art. 2(2)(h)

F2

Word in Sch. 5 para. 49(1)(2) substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 124(d); S.I. 2005/1126, art. 2(2)(h)

F3

Words in Sch. 5 para. 49(2)(3) substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 103(2)(l); S.I. 2005/1126, art. 2(2)(h)

Notes on Schedule 5

Modifications

C1

Sch. 5 modified (18.3.2026) by Finance Act 2026 (c. 11), s. 16

C2

Sch. 5 modified (6.4.2026) by Finance Act 2026 (c. 11), s. 13(10)