SCHEDULES

SCHEDULE 31Disclosure of tax avoidance schemes

PART 1Amendments of Part 7 of FA 2004

8

1

Section 312A (duty of client to notify parties of reference number) is amended as follows.

2

In subsection (1)—

a

after “prescribed information” insert “ under section 312 ”;

b

for “allocated to the notifiable arrangements or proposed notifiable arrangements” substitute

allocated to—

a

the notifiable arrangements or proposed notifiable arrangements, or

b

any arrangements substantially the same as the notifiable arrangements or proposed notifiable arrangements.

3

After subsection (1) insert—

1A

This section also applies where a person (a “client”) to whom a person is providing (or has provided) services in connection with arrangements or proposed arrangements receives prescribed information under section 312ZA relating to the reference number allocated to—

a

the arrangements or proposed arrangements, or

b

any arrangements substantially the same as the arrangements or proposed arrangements.

4

In subsection (4), for “notifiable arrangements or a notifiable proposal” substitute “ arrangements or a proposal ”.