SCHEDULES

SCHEDULE 18Serial tax avoidance

PART 1Contents of Schedule

1

In this Schedule—

a

Part 2 provides for HMRC to give warning notices to persons who incur relevant defeats and includes—

i

provision about the duration of warning periods under warning notices (see paragraph 3), and

ii

definitions of “relevant defeat” and other key terms;

b

Part 3 contains provisions about persons to whom a warning notice has been given, and in particular—

i

imposes a duty to give information notices, and

ii

allows the Commissioners to publish information about such persons in certain cases involving repeated relevant defeats;

c

Part 4 contains provision about the restriction of reliefs;

d

Part 5 imposes liability to penalties on persons who incur relevant defeats in relation to arrangements used in warning periods;

e

Part 6 contains provisions about corporate groups, associated persons and partnerships;

f

Part 7 contains definitions and other supplementary provisions.