# The Tax Avoidance Schemes (Information) Regulations 2012, Note: Explanatory note

Extent: E+W+S+N.I.

(This note is not part of the Regulations)
These Regulations revoke and replace the Tax Avoidance Schemes (Information) Regulations 2004 (S.I. 2004/1864) (“the 2004 Regulations”) and consolidate all subsequent amendments to those Regulations with some minor further amendments.
These regulations prescribe the information which is to be given to HMRC under Part 7 of the Finance Act 2004 (“the 2004 Act”) in relation to tax avoidance schemes which are prescribed by the Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2006 (S.I. 2006/1543).
Regulation 2 provides the interpretation of terms used in these Regulations.
Regulation 3 revokes the 2004 Regulations and amending regulations (as set out in the Schedule to these Regulations) and provides that anything begun under the 2004 Regulations shall be continued under the corresponding provision of these Regulations.
Regulations 4 to 15 prescribe (a) the information to be given in respect of notifiable proposals and arrangements under Part 7 of the 2004 Act (b) whether certain information is to be provided on a return or separately to HMRC and (c) except where information is included in a return, the time within which such information is to be provided.
Regulation 16 provides the prescribed period for a higher rate of penalty under section 98C(2A) of the Taxes Management Act 1970 following a failure to comply with an order under section 306A or 314A of the 2004 Act.
Regulation 17 provides for information required to be delivered to HMRC by virtue of these Regulations to be delivered by means of authorised electronic communications.
Regulation 18 makes a consequential amendment to the Tax Avoidance Schemes (Promoters and Prescribed Circumstances) Regulations 2004 (S.I. 2004/1865).
A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.

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Source: https://www.legislation.gov.uk/uksi/2012/1836/note (the official version)
Page: https://openlegislation.uk/tax-avoidance-schemes-information-regulations-2012/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.