The Tax Avoidance Schemes (Information) (Amendment) (No.2) Regulations 2010

• Citation: S.I. 2010/2928
• Sections: 5

Section 1 Citation and commencement

These Regulations may be cited as the Tax Avoidance Schemes (Information) (Amendment) ( No. 2) Regulations 2010 and come into force on 1st January 2011.

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

Amend the Tax Avoidance Schemes (Information) Regulations 2004 as follows.

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

After regulation 8 insert—

Prescribed information under section 313ZA: information and timing

(8ZA)

(1) For the purposes of section 313ZA(3) (duty of promoter to provide client lists)—

(a) the prescribed period is 30 days;

(b) the prescribed information is—

(i) any reference number allocated by HMRC under section 311 to the arrangements (or to a proposal for them) to which the information provided relates;

(ii) the name and address of each client in relation to whom the relevant date occurs in the relevant period in relation to which the information is being provided;

(ii) the promoter’s name and address; and

(iv) the end date of the relevant period in relation to which the information is being provided.

(c) in sub-paragraph (b)(ii) the address of the client is the address to which the promoter has sent or would have sent the prescribed information under section 312.

(2) For the purposes of section 313ZA(4) the relevant period is each calendar quarter.

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

For regulation 8B substitute—

Higher rate of penalty following a failure to comply with an order under section 306A or 314A

(8B)

(1) For the purposes of section 98C(2A) of the Taxes Management Act 1970 (higher rate of penalty after the making of an order under section 306A the prescribed period is the period of 10 days beginning on the date on which the order is made.

(2) For the purposes of section 98C(2B) of the Taxes Management Act 1970 (higher rate of penalty after the making of an order under section 314A) the prescribed period is the period of 10 days beginning on the date on which the order is made.

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

After regulation 8B insert—

Prescribed information under section 313C: information and timing

(8C)

(1) For the purposes of section 313C(1) (information provided to introducers) the prescribed information is—

(a) P’s name and address; and

(b) the name and address of each person who has provided P with any information relating to the proposal.

(2) For the purposes of section 313C(3)(a) the prescribed period is 10 days.