34 Transactions in securities: procedure for counteraction of advantage
Finance Act 2016 (2016 c 24) | Legislation

34  Transactions in securities: procedure for counteraction of advantage

(1)     Chapter 1 of Part 13 of ITA 2007 (transactions in securities) is amended as follows.

(2)     For section 695 (preliminary notification) substitute—

“695 Notice of enquiry

(1)     An officer of Revenue and Customs may enquire into a transaction or transactions if—

(a)     the officer has reason to believe that section 684 (person liable to counteraction of income tax advantage) may apply to a person (“the taxpayer”) in respect of the transaction or transactions, and

(b)     the officer notifies the taxpayer of his intention to do so.

(2)     The notification may be given at any time not more than 6 years after

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Enforcing a warrant of control

Enforcing a warrant of controlThis Practice Note has been produced by enforcement specialists, The Sheriffs Office. It guides users through the process of enforcing a warrant of control obtained from the County Court as a method of enforcing a money judgment; whereby the judgment creditor takes

LEXISNEXIS

Qualified one-way costs shifting (QOCS)

Qualified one-way costs shifting (QOCS)What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE)

LEXISNEXIS

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have not been living at the same address in the UK since 2017 but are in a genuine relationship. What effect will this have on their extension application?Immigration Rules, Part 8, para 319C sets out

LEXISNEXIS

Introduction to passing off

Unlike many other countries, the UK has no unfair competition law. Brand owners seeking to prevent competitors from marketing ‘copycat’ products or using misleading advertising have to rely on a combination of different intellectual property rights. These rights include the common law right to