Modifications etc. (not altering text)
C1Pt. 5 extended (with effect in accordance with s. 10(7) of the amending Act) by National Insurance Contributions Act 2014 (c. 7), s. 10(1) (with s. 10(7))
(1)This section applies if the action in section 209B(4)(e) (notice of proposal to make generic referral) is taken.
(2)If the notice under paragraph 1(2) of Schedule 43B is withdrawn, the notified adjustments are to be treated as cancelled unless the notice of withdrawal states that the adjustments are not to be treated as cancelled under this section.
(3)The notice of withdrawal may not contain the statement referred to in subsection (2) unless HMRC was authorised to make the notified adjustments otherwise than under this Part.
(4)If the taxpayer is given a notice under paragraph 8(2) of Schedule 43B, which states that the specified tax advantage is not to be counteracted under the general anti-abuse rule, the notified adjustments are to be treated as cancelled, unless that notice states that those adjustments are not to be treated as cancelled under this section.
(5)A notice under paragraph 8(2) of Schedule 43B may not contain the statement referred to in subsection (4) unless HMRC was authorised to make the adjustments otherwise than under this Part.
(6)If the taxpayer is given a notice under paragraph 8(2) of Schedule 43B stating that the specified tax advantage is to be counteracted—
(a)the notified adjustments are confirmed only so far as they are specified in that notice as adjustments required to give effect to the counteraction, and
(b)so far as they are not confirmed, the notified adjustments are to be treated as cancelled.]
Textual Amendments
F1Ss. 209A-209F inserted (15.9.2016) (with effect in accordance with s. 156(3) of the amending Act) by Finance Act 2016 (c. 24), s. 156(1)