Part 7

Disclosure of tax avoidance schemes

Duty of promoter to notify client of number : section 311(2) case
312
1
This section applies where a person who is a promoter in relation to notifiable arrangements is providing (or has provided) services to any person (“
the client
”) in connection with the notifiable arrangements.
2
The promoter must, within 30 days after the relevant date, provide the client with prescribed information relating to any reference number
allocated in a case within section 311(2)
(or, if more than one, any
one such reference number
) that has been notified to the promoter (whether by
HMRC
or any other person) in relation to—
a
the notifiable arrangements, or
b
any arrangements substantially the same as the notifiable arrangements (whether involving the same or different parties).
3
In subsection (2) “
the relevant date
” means the later of—
a
the date on which the promoter becomes aware of any transaction which forms part of the notifiable arrangements, and
b
the date on which the reference number is notified to the promoter.
4
But where the conditions in subsection (5) are met the duty imposed on the promoter under subsection (2) to provide the client with information in relation to notifiable arrangements is discharged.
5
Those conditions are that —
a
the promoter is also a promoter in relation to a notifiable proposal and provides services to the client in connection with them both,
b
the notifiable proposal and the notifiable arrangements are substantially the same, and
c
the promoter has provided to the client, in a form and manner specified by
HMRC
, prescribed information relating to the reference number that has been notified to the promoter in relation to the proposed notifiable arrangements.
6
HMRC
may give notice that, in relation to notifiable arrangements specified in the notice, promoters are not under the duty under subsection (2) after the date specified in the notice.
Ss. 312, 312A substituted for s. 312 (1.11.2008 except for the purposes of Stamp Duty Land tax, 1.4.2010 in so far as not already in force) by Finance Act 2008 (c. 9), s. 116(2), Sch. 38 para. 4; S.I. 2008/1935, art. 2(1) (with art. 2(2)); S.I. 2010/409, art. 2
Pt. 7 excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 13(b)
Words in s. 312 heading inserted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by Finance Act 2021 (c. 26), Sch. 31 paras. 6(2), 44
Words in s. 312(2) inserted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by Finance Act 2021 (c. 26), Sch. 31 paras. 6(3)(a), 44
Words in s. 312(2) substituted (with application in accordance with Sch. 31 paras. 45, 46 of the amending Act) by Finance Act 2021 (c. 26), Sch. 31 paras. 6(3)(b), 44