Regulation 4 Prescribed information in respect of notifiable proposals and arrangementsI1
United Kingdom
The information which must be provided to HMRC by a promoter under section 308(1) or (3) (duties of promoter) in respect of a notifiable proposal or notifiable arrangements is sufficient information as might reasonably be expected to enable an officer of HMRC to comprehend the manner in which the proposal or arrangements are intended to operate, including—
the promoter’s name and address;
details of the provision of the Arrangements Regulations, F1the ATED Arrangements Regulations, the IHT Arrangements Regulations or the SDLT Arrangements Regulations by virtue of which the arrangements or the proposed arrangements are notifiable;
a summary of the arrangements or proposed arrangements and the name (if any) by which they are known;
information explaining each element of the arrangements or proposed arrangements (including the way in which they are structured) from which the tax advantage expected to be obtained under those arrangements arises; and
the statutory provisions, relating to any of the prescribed taxes, on which that tax advantage is based.
The information which must be provided to HMRC 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 HMRC to comprehend the manner in which the arrangements are intended to operate, including—
the client’s name and address;
the name and address of the promoter;
details of the provision of the Arrangements Regulations, F2the ATED Arrangements Regulations, the IHT Arrangements Regulations or the SDLT Arrangements Regulations by virtue of which the arrangements are notifiable;
a summary of the arrangements, and the name (if any) by which they are known;
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
the statutory provisions, relating to any of the prescribed taxes, on which that tax advantage is based.
The information which must be provided to HMRC 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 HMRC to comprehend the manner in which the arrangements of which that transaction forms part are intended to operate, including—
the name and address of the person entering into the transaction;
details of the provision of the Arrangements Regulations, F3the ATED Arrangements Regulations, the IHT Arrangements Regulations or the SDLT Arrangements Regulations by virtue of which the arrangements are notifiable;
a summary of the arrangements and the name (if any) by which they are known;
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
the statutory provisions, relating to any of the prescribed taxes, on which that tax advantage is based.
If, but for this paragraph—
a person would be obliged to provide information in relation to two or more notifiable arrangements,
those arrangements are substantially the same (whether they relate to the same parties or different parties), and
the person has already provided information under paragraph (2) or (3) in relation to any of the other arrangements,
the person need not provide further information under paragraph (2) or (3).
In this regulation—
“the Arrangements Regulations” means the Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2006f1;
F4“the ATED Arrangements Regulations” means the Annual Tax on Enveloped Dwellings Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2013;
“the IHT Arrangements Regulations” means the Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations F52017;
“the SDLT Arrangements Regulations” means the Stamp Duty Land Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2005f2.
Annotations
Textual amendments
- F1
Words in reg. 4(1)(b) inserted (4.11.2013) by The Tax Avoidance Schemes (Information) (Amendment, etc) Regulations 2013 (S.I. 2013/2592), regs. 1, 5
- F2
Words in reg. 4(2)(c) inserted (4.11.2013) by The Tax Avoidance Schemes (Information) (Amendment, etc) Regulations 2013 (S.I. 2013/2592), regs. 1, 6
- F3
Words in reg. 4(3)(b) inserted (4.11.2013) by The Tax Avoidance Schemes (Information) (Amendment, etc) Regulations 2013 (S.I. 2013/2592), regs. 1, 7
- F4
Words in reg. 4(5) inserted (4.11.2013) by The Tax Avoidance Schemes (Information) (Amendment, etc) Regulations 2013 (S.I. 2013/2592), regs. 1, 8
- F5
Word in reg. 4(5) substituted (1.4.2018) by The Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2017 (S.I. 2017/1172), regs. 1(1), 6(2) (with reg. 1)
Commencement
Footnotes
- f1
- f2