Tax Collection and Management (Wales) Act 2016 (anaw6)

[F1 PART 3A E+W GENERAL ANTI-AVOIDANCE RULE

Textual Amendments

F1 Pt. 3A inserted (1.4.2018) by Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), ss. 66, 81(2)(3); S.I. 2018/34, art. 3

Counteracting tax advantages E+W

81F Notice of proposed counteraction E+W

(1) WRA may issue a notice (a ““proposed counteraction notice””) to a taxpayer if WRA considers—

(a) that a tax advantage has arisen to a person from an artificial tax avoidance arrangement, and

(b) that the tax advantage should be counteracted by means of an adjustment under section 81E.

(2) A proposed counteraction notice must—

(a) specify the tax avoidance arrangement and the tax advantage,

(b) explain why WRA considers that a tax advantage has arisen from an artificial tax avoidance arrangement,

(c) set out the adjustment that WRA proposes to make in order to counteract the tax advantage,

(d) specify any amount that the taxpayer will be required to pay in accordance with the proposed WRA assessment, and

(e) inform the taxpayer—

(i) that a final counteraction notice is to be issued after the expiry of the period of 45 days beginning with the day on which the proposed counteraction notice is issued,

(ii) that the taxpayer may request that WRA extend that 45 day period, and

(iii) that the taxpayer may make written representations to WRA at any time before the final counteraction notice is issued.]