SCHEDULES

SCHEDULE 5Provision not at arm’s length: related amendments

Taxes Management Act 1970

Notice of enquiry

1

1

Section 9A of the Taxes Management Act 1970 (c. 9) is amended as follows.

2

For subsection (4) (scope of inquiry) substitute—

4

An enquiry extends to—

a

anything contained in the return, or required to be contained in the return, including any claim or election included in the return,

b

consideration of whether to give the taxpayer a transfer pricing notice under paragraph 5C of Schedule 28AA to the principal Act (provision not at arm’s length: medium-sized enterprise),

but this is subject to the following limitation.