SCHEDULES
SCHEDULE 18Serial tax avoidance
PART 6Corporate groups, associated persons and partnerships
52Partnerships: special provision about taxpayer emendations
1
Sub-paragraph (2) applies if a partnership return is amended at any time under section 12ABA of TMA 1970 (amendment of partnership return by representative partner etc) on a basis that—
a
results in an increase or decrease in, or
b
otherwise affects the calculation of,
any amount stated under subsection (1)(b) of section 12AB of that Act (partnership statement) as a partner’s share of any income, loss, consideration, tax or credit for any period.
2
For the purposes of paragraph 14 (Condition C: counteraction of DOTAS arrangements), the partner is treated as having at that time amended—
a
the partner’s return under section 8 or 8A of TMA 1970, or
b
the partner’s company tax return,
so as to give effect to the amendments of the partnership return.
3
Sub-paragraph (4) applies if a partnership return is amended at any time by HMRC as a result of a disclosure made by the representative partner or that person’s successor on a basis that—
a
results in an increase or decrease in, or
b
otherwise affects the calculation of,
any amount stated under subsection (1)(b) of section 12AB of TMA 1970 (partnership statement) as the share of a particular partner (P) of any income, loss, consideration, tax or credit for any period.
4
If the conditions in sub-paragraph (5) are met, P is treated for the purposes of paragraph 14 as having at that time amended—
a
P’s return under section 8 or 8A of TMA 1970, or
b
P’s company tax return,
so as to give effect to the amendments of the partnership return.
5
The conditions are that the disclosure—
a
is a full and explicit disclosure of an inaccuracy in the partnership return, and
b
was made at a time when neither the person making the disclosure nor P had reason to believe that HMRC was about to begin enquiries into the partnership return.