Regulation 6 Modification of section 308 of the Finance Act 2004
Where, for the purposes of section 308 of the Finance Act 2004—
a promoter has provided to HMRC before 1st April 2010 information prescribed by the Stamp Duty Land Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2005f1 in relation to a notifiable proposal or notifiable arrangements,
the description of the notifiable proposal or arrangements, or part of the description of the notifiable proposal or arrangements, falls within conditions A and B contained in regulation 4 above, and
the promoter is, on or after 1st November 2012, a promoter in relation to a notifiable proposal or notifiable arrangements that are of the same, or substantially the same, description as those in respect of which the prescribed information in paragraph (a) was provided,
the modifications specified in paragraphs (2) and (3) shall apply.
Section 308(5) of the Finance Act 2004 shall be disregarded on the first occasion on or after 1st November 2012 that the promoter would, but for section 308(5) of the Finance Act 2004, have a duty to provide prescribed information concerning the proposal or arrangements, falling within regulation 6(1)(c), by virtue of either section 308(1) or (3) of the Finance Act 2004.
The exception from the requirement to provide prescribed information contained in the concluding words of section 308(3) of the Finance Act 2004 shall be disregarded on the first occasion on or after 1st November 2012 that the promoter would, but for the application of the exception, have a duty to provide prescribed information concerning notifiable arrangements falling within regulation 6(1)(c), by virtue of section 308(3) of the Finance Act 2004.
Annotations
Footnotes
- f1