Part 1 Amendments of Part 7 of FA 2004
Finance Act 2021 (2021 c 26) | Legislation

SCHEDULE 31 Disclosure of Tax Avoidance Schemes

Section 122

Part 1 Amendments of Part 7 of FA 2004

1

Part 7 of FA 2004 (disclosure of tax avoidance schemes) is amended as follows.

2

Before section 306 insert—

“305´¡Ìý±õ²Ô³Ù°ù´Ç»å³Ü³¦³Ù¾±´Ç²Ô

(1)     This Part makes provision about the disclosure of information in relation to arrangements, or proposed arrangements, that enable, or might be expected to enable, a person to obtain a tax advantage.

(2)     Among other things, this Part—

(a)     imposes duties to provide information to HMRC (and others);

(b)     allows HMRC to allocate reference numbers in relation to arrangements and proposed arrangements (in cases where the disclosure duties have been complied with and in other cases);

(c)     makes provision about publication of information about arrangements and proposed arrangements, and persons involved in their supply;

(d)     makes provision about penalties.â€

3

In section 307(4A) (meaning of “makes a firm approachâ€), omit “notifiable†in both places.

4

After section 310C insert—

“310D Notice of potential allocation of reference number: arrangements and proposals suspected of being notifiable

(1)     This section applies where—

(a)     HMRC have become aware that—

(i)     a transaction forming part of arrangements has been

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