The Tax Avoidance Schemes (Information) (Amendment) Regulations 2010

• Citation: S.I. 2010/410
• Sections: 4

Section 1 Citation and Commencement

These Regulations may be cited as the Tax Avoidance Schemes (Information) (Amendment) Regulations 2010 and come into force on 1st April 2010.

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

(1) In regulation 4(5) (time for providing information under section 308, 308A, 309 or 310) for “paragraphs (5ZA) and (5A)” substitute “paragraph (5A)”.

(2) Omit regulation 4(5ZA).

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

(1) Amend regulation 8 as follows.

(2) In paragraph (1) for “or (5)” substitute “, (5) or (5A)”.

(3) In paragraph (3)(a) for “(14)” substitute “(14A)”.

(4) After paragraph (5) insert—

(5A) In the case prescribed at paragraph (14A) the prescribed information is—

(a) the name and address of the purchaser;

(b) the reference number (or, if more than one, any one reference number) allocated under the provisions of section 311;

(c) the address of the property forming the subject of the arrangements (“the property”);

(d) the title number of the property (if any is allocated);

(e) the unique transaction reference number (if a land transaction return has been submitted to HMRC at the time the prescribed information is provided);

(f) the market value of the property, taking into account all chargeable interests in the property held by the same person or connected persons;

(g) the effective date of the first land transaction which forms part of the arrangements;

(h) the name of the person providing the declaration as to the accuracy and completeness of the notification; and

(i) the capacity in which that person is acting.

(5) In paragraph (8) after “(13)” insert “and (14A)”.

(6) After paragraph (14) insert—

(14A) In a case where a purchaser expects an advantage to arise in respect of his liability to pay, entitlement to a repayment of, or to a deferment of his liability to pay stamp duty land tax as a result of notifiable arrangements the prescribed information shall be provided separately to HMRC in such form and manner as they may specify by the time in paragraph (15).

(14B) If paragraph (14A) applies in relation to a land transaction entered into as purchaser by or on behalf of a partnership notification of the prescribed information by or in relation to the responsible partners may instead be done by or in relation to a representative partner or partners.

(7) In paragraph (15)—

(a) for “(14)” substitute “(14A)”;

(b) after sub-paragraph (d) insert—

(e) in the case of paragraph (14A) no later than 30 days following the later of—

(i) the effective date of the first land transaction which forms part of the arrangements; or

(ii) the receipt of the reference number allocated under the provisions of section 311.

(8) After paragraph (16) insert—

(16A) In paragraphs (5A), (14A), (14B) and (15), expressions which are used in Part 4 of the Finance Act 2003 have the same meaning as in that Part.

(9) Omit paragraph (17).