5(1)Paragraph 6 (duty to notify Commissioners) is amended as follows.U.K.
(2)In sub-paragraph (1)—
(a)omit the word “or” at the end of paragraph (a), and
(b)after paragraph (b) insert “, or
(c)the amount of his non-deductible tax in respect of any prescribed accounting period is less than it would be but for such a scheme.”
(3)After sub-paragraph (2) insert—
“(2A)Sub-paragraph (2) does not apply to a taxable person in relation to any scheme if he has on a previous occasion—
(a)notified the Commissioners under that sub-paragraph in relation to the scheme, or
(b)provided the Commissioners with prescribed information under sub-paragraph (3) (as it applied before the scheme became a designated scheme) in relation to the scheme.”
(4)For sub-paragraph (5) substitute—
“(5)Sub-paragraph (3) also does not apply where the scheme is one in respect of which the taxable person has on a previous occasion provided the Commissioners with prescribed information under that sub-paragraph.”
Commencement Information
I1Sch. 1 para. 5 in force at 1.8.2005 by S.I. 2005/2010, art. 2 (with arts. 3, 4)