Modifications etc. (not altering text)
C1Pt. 4 excluded by 2010 c. 4, s. 938N (as inserted (19.7.2011) by Finance Act 2011 (c. 11), Sch. 5 para. 2)
C2Pt. 4 excluded (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(2); S.I. 2011/2329, art. 3
C3Pt. 4 excluded (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(2); S.I. 2011/2576, art. 5
C4Pt. 4 excluded (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 129(11) (with s. 147, Sch. 17)
(1)Subsection (2) applies in relation to a transfer-pricing determination made for a purpose specified in section 208(3)(a) to (d) if, under section 208(1), the determination requires the Commissioners' sanction.
(2)If the closure notice, or notice under section 30B(1) of TMA 1970, is given to a person—
(a)without the determination, so far as it is taken into account in the notice, having been approved by the Commissioners, or
(b)without a copy of the Commissioners' approval having been served on the person at or before the time when the notice is given to the person,
the notice has effect as if given in the terms (if any) in which it would have been given had the determination not been taken into account.
(3)Subsection (4) applies in relation to a transfer-pricing determination made for a purpose specified in section 208(3)(e) to (g) if, under section 208(1), the transfer-pricing determination requires the Commissioners' sanction.
(4)If notice of the assessment, or notice of the discovery determination, is given to a person—
(a)without the transfer-pricing determination, so far as it is taken into account in the assessment or discovery determination, having been approved by the Commissioners, or
(b)without a copy of the Commissioners' approval having been served on the person at or before the time when the notice is given to the person,
the assessment or discovery determination has effect as if made (and notified) in the terms (if any) in which it would have been made had the transfer-pricing determination not been taken into account.
(5)For the purposes of subsections (2) and (4), the Commissioners' approval of a transfer-pricing determination requiring their sanction—
(a)must be given specifically in relation to the case concerned and must apply to the amount determined, but
(b)subject to that, may be given by the Commissioners (either before or after the determination is made) in any such form or manner as the Commissioners may determine.
[F1(6)In this section—
“the Commissioners” means the Commissioners for Her Majesty’s Revenue and Customs, and
“transfer-pricing determination” has the meaning given by section 208(2).]
Textual Amendments
F1S. 210(6) substituted (retrospectively and with effect in accordance with art. 1(2) of the amending S.I.) by Taxation (International and Other Provisions) Act 2010 (Amendment) Order 2010 (S.I. 2010/2901), arts. 1(1), 4(4)