Part 2 Amendments of Schedule 17 to F(No 2)a 2017
Finance Act 2021 (2021 c 26) | Legislation

Part 2 Amendments of Schedule 17 to F(No 2)a 2017

19

Schedule 17 to F(No 2)A 2017 (disclosure of tax avoidance schemes: VAT and other indirect taxes) is amended as follows.

20

Before Part 1 insert—

“Part A1
Introduction

A1

(1)     This Schedule 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 in relation to VAT or another indirect tax.

(2)     Among other things, this Schedule—

(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€

21

In paragraph 10(1) (meaning of “makes a firm approachâ€), omit “notifiableâ€.

22

After paragraph 21 insert—

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

21A

(1)     This paragraph applies where—

(a)     HMRC have become aware that—

(i)     a transaction

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