[Part 3 Notices of Proposed Counteraction]
Finance Act 2013 (2013 c 29) | Legislation

[Part 3 Notices of Proposed Counteraction]

[Power to give notice of proposed counteraction to responsible partner

5

(1)     If a designated HMRC officer considers that, in relation to a partnership—

(a)     a partnership return has been made on the basis that a tax advantage has arisen to one or more partners from tax arrangements that are abusive, and

(b)     the tax advantage ought to be counteracted under section 209,

the officer may give the responsible partner a written notice under this paragraph.

(2)     A partner who appears to a designated HMRC officer to fall within sub-paragraph (1)(a) is a “relevant partner†for the purposes of this Part of this Schedule.

(3)     The notice must—

(a)     specify each relevant partner, the arrangements and the tax advantage,

(b)     explain why the officer considers that a tax advantage has arisen to each relevant partner from tax arrangements that are abusive,

(c)     set out the counteraction that the officer considers ought to be taken,

(d)     inform the responsible partner of the period for making representations under paragraph 4 of Schedule 43, and

(e)     explain the effect of—

(i)     paragraphs 5 and 6 of Schedule 43, and

(ii)     sections 209(8) and 212B.

(4)

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