http://www.legislation.gov.uk/ukpga/2004/12/section/315DFinance Act 2004An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.texttext/xmlenStatute Law Database2026-07-29Expert Participation2026-07-14 Part 7315D1A person is deemed not to have failed to comply with a duty imposed by a provision mentioned in the first column of the table in section 315(1) if the person had a reasonable excuse for the failure and—athe reasonable excuse continues to apply, orbthe reasonable excuse has ceased to apply, but the person complied with the duty without unreasonable delay after the cessation.2Where an order is made under section 306A or 314A—athe order is not evidence that a person either does or does not have a reasonable excuse for non-compliance before the order was made, andbthe person identified in the order as the promoter cannot rely on doubt as to notifiability as a reasonable excuse for a failure to comply with section 308.3Where a person fails to comply with—asection 309 and the promoter for the purposes of that section is a monitored promoter, orbsection 310 and the arrangements for the purposes of that section are arrangements of a monitored promoter,then any legal advice which was given or procured by that monitored promoter and which the person took into account is to be disregarded in determining whether the person has a reasonable excuse for the failure.4In determining whether or not a person who is a monitored promoter has a reasonable excuse for a failure to do anything required to be done, reliance on legal advice does not constitute a reasonable excuse if either—athe advice was not based on a full and accurate description of the facts, orbthe conclusions in the advice that the person relied on were unreasonable.5For the purposes of this section, “monitored promoter” has the meaning given by section 244(5) of FA 2014.Pt. 7 excluded (17.7.2014) by Finance Act 2014 (c. 26), Sch. 35 para. 13(b)Ss. 315-315E substituted for s. 315 (18.3.2026) by Finance Act 2026 (c. 11), s. 216(2)(b) (with s. 219)