The Tax Avoidance Schemes (Information) (Amendment) Regulations 2005

• Citation: S.I. 2005/1869
• Sections: 6

Section 1 Citation, commencement, effect and interpretation

(1) These Regulations may be cited as the Tax Avoidance Schemes (Information) (Amendment) Regulations 2005 and shall come into force on 1st August 2005.

(2) These Regulations do not have effect in respect of proposals or arrangements (as the case may be) which are notifiable by virtue of the Stamp Duty Land Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2005 —

(a) for the purposes of section 308(1), if the relevant date in relation to a proposal falls before 1st August 2005;

(b) for the purposes of section 308(3), if the date on which the promoter first becomes aware of any transaction forming part of the arrangements falls before that date;

(c) for the purposes of section 309 or 310, the date on which any transaction forming part of the arrangements is entered into falls before that date.

(3) In these Regulations a reference (without more) to a numbered section is a reference to the section of the Finance Act 2004 which is so numbered.

Section 2 Amendment of the Tax Avoidance Schemes (Information) Regulations 2004

The Tax Avoidance Schemes (Information) Regulations 2004 are amended as follows.

Section 3 Amendment of the Tax Avoidance Schemes (Information) Regulations 2004

In regulation 2 (interpretation)—

(a) after the definition of “the Arrangements Regulations” insert—

“the SDLT Arrangements Regulations ” means the Stamp Duty Land Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2005;

(b) in the definition of “the prescribed taxes” for “and income tax” substitute “, income tax and stamp duty land tax;”.

Section 4 Amendment of the Tax Avoidance Schemes (Information) Regulations 2004

(1) In regulation 3(1)(b), 3(2)(b), 3(3)(c) and 3(4)(b) (prescribed information in respect of notifiable proposals and arrangements) after “details of the provisions of the Arrangement Regulations”, wherever it appears, insert “or the SDLT Arrangement Regulations”.

(2) At the end of the regulation insert—

(5) If, but for this paragraph—

(a) a person would be obliged to provide information in relation to two or more notifiable arrangements,

(b) those arrangements are substantially the same (whether they relate to the same parties or different parties), and

(c) he has already provided information under paragraph (4) in relation to any of the other arrangements,

he need not provide further information under paragraph (4).

Section 5 Amendment of the Tax Avoidance Schemes (Information) Regulations 2004

In regulation 4 (time for providing information under section 308, 309 or 310) —

(a) at the end of paragraph (5) for “the following qualification” substitute “paragraphs (5ZA) and (5A)”; and

(b) after paragraph (5) insert—

(5ZA) In the case of a notification under section 310 in relation to stamp duty land tax, the prescribed time is any time during the period of 30 days beginning with the day after the day on which the person enters into the first transaction forming part of the notifiable arrangements.

Section 6 Amendment of the Tax Avoidance Schemes (Information) Regulations 2004

At the end of regulation 8 (prescribed information under section 313: timing and manner of delivery) insert—

(11) This regulation does not apply to information provided in respect of the SDLT Arrangement Regulations.