Regulation 1 Citation, commencement and effect

(1)

These Regulations may be cited as the Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2016 and come into force on 23rd February 2016.

(2)

These Regulations do not have effect—

(a)

for the purposes of section 308(1) of the Finance Act 2004 (duties of promoter relating to any notifiable proposal)^f1, if the relevant date^f2 falls before 23rd February 2016;

(b)

for the purposes of section 308(3) of the Finance Act 2004 (duties of promoter relating to any notifiable arrangements), if the date on which the promoter first becomes aware of any transaction forming part of notifiable arrangements falls before 23rd February 2016;

(c)

for the purposes of section 309(1) of the Finance Act 2004 (duty of person dealing with promoter outside United Kingdom), and of section 310 of that Act (duty of parties to notifiable arrangements not involving promoter), if the date on which any transaction forming part of notifiable arrangements is entered into falls before 23rd February 2016.

Annotations

Footnotes

f1: Section 308 was amended by paragraph 2 of Schedule 38 to the Finance Act 2008 (c.9).
f2: Relevant date is defined in section 308(2) of Finance Act 2004 (c.12). Section 308(2) was amended by paragraphs 1 and 2 of Schedule 38 to Finance Act 2008 and paragraphs 1 and 3 of Schedule 17 to Finance Act 2010.