PART 5Promoters of tax avoidance schemes
Allocation and distribution of promoter reference number
253Duty of persons to notify the Commissioners
1
If a person (“N”) is notified of a promoter reference number under section 250, 251 or 252, N must report the number to the Commissioners if N expects to obtain a tax advantage from relevant arrangements in relation to which the monitored promoter to whom the reference number relates (whether that is N or another person) is the promoter.
2
A report under this section—
a
must be made in (or, if prescribed circumstances exist, submitted with) each tax return made by N for a period that is or includes a period for which the arrangements enable N to obtain a tax advantage (whether in relation to the tax to which the return relates or another tax);
3
The case is that the tax return in which the report would (apart from this subsection) have been made is not submitted—
a
by the filing date, or
b
if there is no filing date in relation to the tax return concerned, by such other time that the tax return is required to be submitted by or under any enactment.
4
Where N expects to obtain the tax advantage referred to in subsection (1) in respect of inheritance tax, stamp duty land tax, stamp duty reserve tax or petroleum revenue tax—
a
subsection (2) does not apply in relation to that tax advantage, and
b
a report under this section in respect of that tax must be in such form and manner and contain such information and be made within such time as is prescribed.
5
Where the relevant arrangements referred to in subsection (1) give rise to N making a claim under section 261B of TCGA 1992 (treating trade loss as CGT loss) or for loss relief under Part 4 of ITA 2007 and that claim is not contained in a tax return, a report under this section must also be made in that claim.
6
In this section “tax return” means any of the following—
a
a return under section 8 of TMA 1970 (income tax and capital gains tax: personal return);
b
a return under section 8A of TMA 1970 (income tax and capital gains tax: trustee’s return);
c
a return under section 12AA of TMA 1970 (income tax and corporation tax: partnership return);
d
a company tax return under paragraph 3 of Schedule 18 to the FA 1998 (company tax return);
e
a return under section 159 or 160 of FA 2013 (returns and further returns for annual tax on enveloped dwellings).