Search Legislation

Finance Act 2021

 Help about what version

What Version

 Help about advanced features

Advanced Features

Changes over time for: Paragraph 4

 Help about opening options

Alternative versions:

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2021, Paragraph 4. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

4(1)Information is category 1 information if—U.K.

(a)it involves a domestic matter, or

(b)it involves an offshore matter and the territory in question is a category 1 territory.

(2)Information is category 2 information if—

(a)it involves an offshore matter or an offshore transfer,

(b)the territory in question is a category 2 territory, and

(c)it is information which would enable or assist HMRC to assess the person's liability to the tax in question.

(3)Information is category 3 information if—

(a)it involves an offshore matter or an offshore transfer,

(b)the territory in question is a category 3 territory, and

(c)it is information which would enable or assist HMRC to assess the person's liability to the tax in question.

(4)Information “involves an offshore matter” if the liability to tax which would have been shown in the return includes a liability to tax charged on or by reference to—

(a)income arising from a source in a territory outside the UK,

(b)assets situated or held in a territory outside the UK,

(c)activities carried on wholly or mainly in a territory outside the UK, or

(d)anything having effect as if it were income, assets or activities of a kind described above.

(5)Information “involves an offshore transfer” if—

(a)it does not involve an offshore matter,

(b)it is information which would enable or assist HMRC to assess the person's liability to the tax in question,

(c)by failing to make the return, the person deliberately withholds the information (whether or not the withholding of the information is also concealed), and

(d)the applicable condition in paragraph 6 is satisfied.

(6)Information “involves a domestic matter” if it does not involve an offshore matter or an offshore transfer.

(7)If the information which the person withholds falls into more than one category—

(a)the person's failure to make the return is to be treated for the purposes of this Schedule as if it were separate failures, one for each category of information according to the matters or transfers which the information involves, and

(b)for each separate failure, the liability to tax which would have been shown in the return in question is taken to be such share of the liability to tax which would have been shown in the return mentioned in paragraph (a) as is just and reasonable.

(8)For the purposes of this Schedule—

(a)paragraph 21A of Schedule 24 to FA 2007 (classification of territories) has effect, but

(b)an order under that paragraph does not apply to a failure if the due date is before the date on which the order comes into force.

(9)In this paragraph and paragraph 6—

(a)assets” has the meaning given in section 21(1) of TCGA 1992, but also includes sterling;

(b)UK” means the United Kingdom, including the territorial sea of the United Kingdom.

Commencement Information

I1Sch. 25 para. 4 in force at 6.4.2024 for specified purposes by S.I. 2024/440, reg. 2(1)

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources