Regulation 5 Prescribed descriptions of arrangementsI1

United Kingdom

F1(1)

The following arrangements are prescribed for the purposes of Part 7 of the FA 2004 (disclosure of tax avoidance schemes)—

(a)

in relation to income tax, corporation tax and capital gains tax, any arrangements which fall within any description specified in a provision of these Regulations listed in paragraph (2);

(b)

in relation to inheritance tax, any arrangements which fall within any description specified in a provision of these Regulations listed in paragraph (2)(a) or (c);

F2(c)

in relation to the apprenticeship levy, any arrangements which fall within any description specified in a provision of these Regulations listed in paragraph (2)(a), (b), (c) or (e).

(2)

The provisions are—

(a)

regulation 6 (description 1: confidentiality in cases involving a promoter);

(b)

regulation 7 (description 2: confidentiality in cases not involving a promoter);

(c)

regulation 8 (description 3: premium fee);

F3(d)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(e)

regulation 10 (description 5: standardised tax products);

(f)

regulation 12 (description 6: loss schemes); F4...

(g)

regulation 13 (description 7: leasing arrangements) F5; F6...

F7(h)

regulation 18 (description 8: employment income provided through third parties) F8and

(i)

regulation 19 (description 9: financial products).

(3)

For the purpose only of determining whether arrangements are prescribed by regulations 6, 7, 8 and 13 of these Regulations, regulation 6 of the Promoters Regulations (persons not to be treated as promoters: legal professional privilege)^f1 shall be disregarded.

Annotations

Textual amendments

F1: Reg. 5(1) substituted (23.2.2016) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2016 (S.I. 2016/99), regs. 1(1), 4(2) (with reg. 1(2))
F2: Reg. 5(1)(c) inserted (21.12.2017) by The Tax Avoidance Schemes (Miscellaneous Amendments) Regulations 2017 (S.I. 2017/1171), regs. 1(1), 3 (with reg. 1(2))
F3: Reg. 5(2)(d) omitted (1.1.2011) by virtue of The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2010 (S.I. 2010/2834), regs. 1, 4
F4: Word in reg. 5(2)(f) omitted (1.9.2009) by virtue of The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2009 (S.I. 2009/2033), regs. 1, 2(2)(a) (with reg. 3)
F5: Word in reg. 5(2)(g) substituted for full stop (1.9.2009) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2009 (S.I. 2009/2033), regs. 1, 2(2)(b) (with reg. 3)
F6: Word in reg. 5(2) omitted (23.2.2016) by virtue of The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2016 (S.I. 2016/99), regs. 1(1), 4(3)(a) (with reg. 1(2))
F7: Reg. 5(2)(h) substituted (4.11.2013) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2013 (S.I. 2013/2595), regs. 1(1), 9 (with reg. 1(2))
F8: Reg. 5(2)(i) and word inserted (23.2.2016) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2016 (S.I. 2016/99), regs. 1(1), 4(3)(b) (with reg. 1(2))

Commencement

I1: Reg. 5 in force at 1.8.2006, see reg. 1(1)

Footnotes

f1: S.I. 2004/1865. Regulation 6 was added by regulation 2 of S.I. 2004/2613.