SCHEDULE 31 Disclosure of Tax Avoidance Schemes | Part 2 | Amendments Of Schedule 17 To F(No 2)A 2017 | Finance Act 2021 C26

Part 2 Amendments of Schedule 17 to F(No 2)a 2017

Finance Act 2021 (2021 c 26) | Legislation

Part 2 Amendments of Schedule 17 to F(No 2)a 2017

Schedule 17 to F(No 2)A 2017 (disclosure of tax avoidance schemes: VAT and other indirect taxes) is amended as follows.

Before Part 1 insert—

“Part A1
Introduction

A1

(1) This Schedule makes provision about the disclosure of information in relation to arrangements, or proposed arrangements, that enable, or might be expected to enable, a person to obtain a tax advantage in relation to VAT or another indirect tax.

(2) Among other things, this Schedule—

(a) imposes duties to provide information to HMRC (and others);

(b) allows HMRC to allocate reference numbers in relation to arrangements and proposed arrangements (in cases where the disclosure duties have been complied with and in other cases);

(c) makes provision about publication of information about arrangements and proposed arrangements, and persons involved in their supply;

(d) makes provision about penalties.”

In paragraph 10(1) (meaning of “makes a firm approach”), omit “notifiable”.

After paragraph 21 insert—

“Notice of potential allocation of reference number: arrangements and proposals suspected of being notifiable