The Finance Act 2015, Schedule 20 (Appointed Days) Order 2016

• Citation: S.I. 2016/456
• Sections: 5

Section 1 Citation and interpretation

This Order may be cited as the Finance Act 2015, Schedule 20 (Appointed Days) Order 2016.

Section 2 Citation and interpretation

In this Order—

“ HMRC ” means Her Majesty’s Revenue and Customs;

“Schedule 20” means Schedule 20 to the Finance Act 2015 (penalties in connection with offshore matters and offshore transfers);

“transfer of value” has the meaning given by section 3 of the Inheritance Tax Act 1984 .

Section 3 Appointed days in respect of amendments to Schedule 24 to the Finance Act 2007

(1) The appointed day for the coming into force of paragraphs 3(3) to 3(7), 4 and 8 of Schedule 20 is 1st April 2016.

(2) The amendments to Schedule 24 to the Finance Act 2007 (penalties for errors) made by the above paragraphs have effect in relation to documents given to HMRC relating to—

(a) a transfer of value made on or after that date for the purposes of inheritance tax; and

(b) a tax year commencing on or after 6th April 2016 for the purposes of income tax and capital gains tax.

Section 4 Appointed day in respect of amendments to Schedule 41 to the Finance Act 2008

(1) The day appointed for the coming into force of paragraphs 11(3) to 11(9) and 12 of Schedule 20 is 6th April 2016.

(2) Those amendments have effect in relation to an obligation arising under section 7 of the Taxes Management Act 1970 (notice of liability to income tax and capital gains tax) in respect of a tax year commencing on or after that date.

Section 5 Appointed day in respect of amendments to Schedule 55 to the Finance Act 2009

(1) The day appointed for the coming into force of paragraphs 16(3) to 16(9) and 17 of Schedule 20 is 6th April 2016.

(2) Those amendments have effect in relation to a return or other document which—

(a) is required to be made or delivered to HMRC in relation to a tax year commencing on or after that date; and

(b) falls within item 1, 2 or 3 of the Table in paragraph 1(5) of Schedule 55 to the Finance Act 2009 (penalty for failure to make returns etc ) .