Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 34 U.K. Promoters of tax avoidance schemes: threshold conditions

PART 1 U.K. Meeting the threshold conditions: general

Opinion notice of GAAR Advisory Panel U.K.

7 U.K. A person meets this condition if—

(a) arrangements in relation to which the person is a promoter have been referred to the GAAR Advisory Panel under Schedule 43 to FA 2013,

(b) one or more opinion notices are given in relation to the arrangements under paragraph 11(3)(b) of that Schedule (opinion of sub-panel of GAAR Advisory Panel that arrangements are not reasonable), and

(c) the notice, or the notices taken together, either—

(i) state the joint opinion of all the members of the sub-panel arranged under paragraph 10 of that Schedule, or

(ii) state the opinion of two or more members of that sub-panel.