SCHEDULES
SCHEDULE 30

Amendments of Part 5 of FA 2014
PART 3

Conduct and monitoring notices: transferees

Monitoring notices: transferees
21
1
After section 244 insert—

Monitoring notices: transferees
244A
1
This section applies if an authorised officer becomes aware at any time that a person to whom a monitoring notice has been given ( “ P ”) has made a relevant transfer within the meaning of paragraph 5 of Schedule 33A (promotion structures) to another person ( “D”).
2
The authorised officer may give D a monitoring notice.
3
Where a person is given a monitoring notice under this section, but considers that they were not a person to whom a relevant transfer was made (such that this section applies), they may make representations to that effect to the authorised officer.
4
If (in light of those representations) the authorised officer considers that this section did not apply at the time the monitoring notice was given, the officer must withdraw the notice.
5
Subsections (2) to (4) of section 244 (monitoring notice: content and issuing) apply in relation to a monitoring notice given under subsection (2) of this section as they apply to a monitoring notice given under subsection (1) of that section, but as if the reference in subsection (3)(a) of that section to “the person” were a reference to P.
2
In section 248 (publication by HMRC), in subsection (2)(c), for “mentioned in section 242(1)(a)” substitute “ as a promoter which the monitored promoter is carrying on ”.
3
The amendments made by this paragraph have effect in relation to relevant transfers made on or after the day on which this Act is passed.