Regulation 6 Description 1: Confidentiality where promoter involvedF1
United Kingdom
Arrangements are prescribed if—
any element of the arrangements (including the way in which the arrangements are structured) gives rise to the tax advantage expected to be obtained under the arrangements; and
it might reasonably be expected that a promoter would wish the way in which that element of those arrangements secures, or might secure, a tax advantage to be kept confidential from any other promoter at any time following the material date.
Arrangements are prescribed F2if it might reasonably be expected that a promoter would, but for the requirements of these Regulations, wish to keep F3the way in which any element of those arrangements (including the way in which the arrangements are structured) that secures, or might secure, the tax advantage confidential from HMRC at any time following the material date, and a reason for doing so is to facilitate repeated or continued use of the same element, or substantially the same element, in the future.
Cases where arrangements will be prescribed under paragraph (2) include, but are not limited to, where—
a promoter does not provide to the user of the arrangements (“the user”), or prevents or discourages the user from retaining, any promotional materials, data or written professional advice relating to those arrangements; and
it might reasonably be expected that the reason for doing so is to keep the arrangements confidential from HMRC in order to facilitate repeated or continued use of any element of those arrangements.
In a case where—
by virtue of regulation 6 of the Promoters Regulations (persons not to be treated as promoters: legal professional privilege), no person is to be treated as the promoter in relation to the arrangements; or
by virtue of section 309(1) of FA 2004 (duty of person dealing with promoter outside United Kingdom), a user of the arrangements has a duty to provide prescribed information,
for paragraph (2) substitute—
Arrangements are prescribed if it might reasonably be expected that the user of the arrangements would, but for the requirements of these regulations, wish to keep the way in which any element of those arrangements (including the way in which the arrangements are structured) that secures the tax advantage confidential from HMRC at any time following the material date.
Annotations
Textual amendments
- F1
Reg. 6 substituted (1.1.2011) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2010 (S.I. 2010/2834), regs. 1, 5
- F2
Words in reg. 6(2) substituted (4.11.2013) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2013 (S.I. 2013/2595), regs. 1(1), 3(a) (with reg. 1(2))
- F3
Words in reg. 6(2) substituted (4.11.2013) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2013 (S.I. 2013/2595), regs. 1(1), 3(b) (with reg. 1(2))
- F4
Reg. 6(2A) inserted (4.11.2013) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2013 (S.I. 2013/2595), regs. 1(1), 4 (with reg. 1(2))
- F5
Words in reg. 6(3) substituted (4.11.2013) by The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2013 (S.I. 2013/2595), regs. 1(1), 5 (with reg. 1(2))