PART 3Quarterly updates

Update noticesI18

1

“Update notice” means a notice made by the Commissioners which is stated to be made further to this regulation and which specifies update information to be provided to HMRC.

2

The update information which may be specified includes (but is not limited to)—

a

providing designatory information;

b

providing totals of the amounts falling within specified categories of transactions, being amounts derived from the relevant person’s digital records; and

c

identifying the properties which form part of a property business.

3

For different descriptions of relevant person, different designatory information or different categories of transactions may be specified.