Part 3 Annual Information Notices and Naming
Finance Act 2016 (2016 c 24) | Legislation

Part 3 Annual Information Notices and Naming

Annual information notices

17

(1)     A person (“Pâ€) who has been given a warning notice under this Schedule must give HMRC a written notice (an “information noticeâ€) in respect of each reporting period in the warning period (see sub-paragraph (11)).

(2)     An information notice must be given not later than the 30th day after the end of the reporting period to which it relates.

(3)     An information notice must state whether or not P—

(a)     has in the reporting period delivered a return, or made a claim[, election, declaration or application for approval,] on the basis that a relevant tax advantage arises, or has since the end of the reporting period delivered on that basis a return which P was required to deliver before the end of that period,

(b)     has in the reporting period failed to take action which P would be required to take under or by virtue of an enactment relating to tax but for particular [disclosable] arrangements to which P is a party,

(c)     has in the reporting period become a party to arrangements which—

(i)     relate to the position with respect to VAT of another person (“Sâ€)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

The tort of deceit

The tort of deceitDeceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they

LEXISNEXIS

Financial Conduct Authority—Principles for Businesses (PRIN)

Financial Conduct Authority—Principles for Businesses (PRIN)This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the FCA’s High Level Standards set out in the FCA’s Handbook. The Principles are a general

LEXISNEXIS

Traditional procurement of construction contracts

Traditional procurement of construction contractsThis Practice Note provides a basic explanation of traditional procurement in construction. It looks at why this type of procurement is used and also considers particular issues to take into account when choosing to follow this procurement route.When

LEXISNEXIS

Resulting trusts

Resulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive and implied trusts, although it is perhaps doubtful whether there is any form of implied trust which is not in fact either a resulting trust or a