The Tax Collection and Management (Reimbursement Arrangements) (Wales) Regulations 2018

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations describe the provisions that must be included in reimbursement arrangements made by a person making a claim under section 63 (claim for relief for overpaid tax) of the Tax Collection and Management (Wales) Act 2016 (“the Act”). They come into force on 1 April 2018.

Regulation 2 defines certain terms used in the Regulations.

Regulation 3 provides that reimbursement arrangements must be disregarded for the purposes of section 64 (disallowing claims for relief due to unjustified enrichment) of the Act, unless they comply with regulations 4 and 7.

Regulation 4 describes the detailed provisions that must be included in reimbursement arrangements.

Regulation 5 requires a claimant to repay to the Welsh Revenue Authority any amount which the claimant received in order to reimburse customers, but which the claimant had failed to apply to that purpose within 30 days of receipt of that amount.

Regulation 6 describes the records that the claimant must keep relating to the reimbursement arrangements.

Regulation 7 describes the undertakings that the claimant must give to comply with the claimant’s reimbursement arrangements.

Regulation 8 makes provisions in respect of penalties.

The Welsh Ministers’ Code of Practice on the carrying out of Regulatory Impact Assessments was considered in relation to these Regulations. As a result, a Regulatory Impact Assessment has been prepared as to the likely cost and benefits of complying with these Regulations. A copy can be obtained from the Welsh Government, Cathays Park, Cardiff CF10 3NQ.