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Regulation 3 Prescribed information in respect of notifiable proposals and arrangements

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

(1)

The information which must be provided to the Board by a promoter under section 308(1) in respect of a notifiable proposal is sufficient information as might reasonably be expected to enable an officer of the Board to comprehend the manner in which the proposal is intended to operate, including—

(a)

the promoter’s name and address;

(b)

details of the provision of the Arrangements Regulations by virtue of which the proposal is notifiable;

(c)

a summary of the proposal and the name (if any) by which it is known;

(d)

information explaining each element of the proposed arrangements (including the way in which they are structured) from which the tax advantage expected to be obtained under those arrangements arises; and

(e)

the statutory provisions, relating to any of the prescribed taxes, on which that tax advantage is based.

(2)

The information which must be provided to the Board by a promoter under section 308(3) in respect of notifiable arrangements is sufficient information as might reasonably be expected to enable an officer of the Board to comprehend the manner in which the arrangements are intended to operate, including—

(a)

the promoter’s name and address;

(b)

details of the provision of the Arrangements Regulations by virtue of which the arrangements are notifiable;

(c)

a summary of the arrangements and the name (if any) by which they are known;

(d)

information explaining each element of the arrangements (including the way in which they are structured) from which the tax advantage expected to be obtained under the arrangements arises; and

(e)

the statutory provisions, relating to any of the prescribed taxes, on which that tax advantage is based.

(3)

The information which must be provided to the Board by a client under section 309 (duty of person dealing with promoter outside the United Kingdom) in respect of notifiable arrangements is sufficient information as might reasonably be expected to enable an officer of the Board to comprehend the manner in which the arrangements are intended to operate, including—

(a)

the client’s name and address;

(b)

the name and address of the promoter;

(c)

details of the provision of the Arrangements Regulations by virtue of which the arrangements are notifiable;

(d)

a summary of the arrangements, and the name (if any) by which they are known;

(e)

information explaining each element of the arrangements (including the way in which they are structured) from which the tax advantage expected to be obtained under the arrangements arises; and

(f)

the statutory provisions, relating to any of the prescribed taxes, on which that tax advantage is based.

(4)

The information which must be provided to the Board by a person obliged to do so by section 310 (duty of parties to notifiable arrangements not involving promoter) is sufficient information as might reasonably be expected to enable an officer of the Board to comprehend the manner in which the arrangements of which that transaction forms part are intended to operate, including—

(a)

the name and address of the person entering into the transaction;

(b)

details of the provision of the Arrangements Regulations by virtue of which the arrangements are notifiable;

(c)

a summary of the arrangements and the name (if any) by which they are known;

(d)

information explaining each element of the arrangements (including the way in which they are structured) from which the tax advantage expected to be obtained under the arrangements arises; and

(e)

the statutory provisions, relating to any of the prescribed taxes, on which that tax advantage is based.