The International Tax Enforcement (Disclosable Arrangements) Regulations 2020

Annual reporting requirement

5.—(1) Where a UK relevant taxpayer participates in a reportable cross-border arrangement, the UK relevant taxpayer must make a return for—

(a) the tax year(1) or accounting period(2), as the case may be, in which the first of the following occurs—

(i) the reportable cross-border arrangement is made available for implementation to the relevant taxpayer,

(ii) the reportable cross-border arrangement is ready for implementation by the UK relevant taxpayer, or

(iii) the first step in the implementation of the reportable cross-border arrangement is made in relation to the UK relevant taxpayer, and

(b) each subsequent tax year or accounting period, as the case may be, in which the UK relevant taxpayer’s participation in the reportable cross-border arrangement has a tax advantage in relation to that UK relevant taxpayer.

(2) The return must set out—

(a) the arrangement reference number of the reportable cross-border arrangement, and

(b) the tax advantage of the reportable cross-border arrangement in relation to the UK relevant taxpayer for that tax year or accounting period.

(3) The return must be made—

(a) where the UK relevant taxpayer is a company, on or before the filing date for the company’s tax return as set out in paragraph 14 of Schedule 18 to the Finance Act 1998(3) for the accounting period in which the first of the events in paragraph (1)(a) occurs or in which the reportable cross-border arrangement has a tax advantage in relation to that relevant taxpayer, or

(a) in any other case, on or before 31 January in the tax year following the tax year in which the first of the events in paragraph (1)(a) occurs or in which the reportable cross-border arrangement has a tax advantage in relation to that UK relevant taxpayer.

(1)

“Tax year” is defined in section 4(2) of the Income Tax Act 2007 (c. 3).

(2)

“Accounting period” is defined in section 1119 of the Corporation Tax Act 2010 (c. 4).

(3)

1998 c. 36; paragraph 14 was amended by Part 3(16) of Schedule 40 to the Finance Act 2002 (c. 23).