|
| |
|
| |
(e) | insurance premium tax, |
| |
| |
| |
(h) | stamp duty reserve tax, |
| 5 |
(i) | petroleum revenue tax, |
| |
| |
| |
| |
(m) | relevant foreign tax. |
| 10 |
(2) | “Corporation tax” includes any amount assessable or chargeable as if it were |
| |
| |
| |
(a) | value added tax charged in accordance with VATA 1994, and |
| |
(b) | value added tax charged in accordance with the law of another |
| 15 |
| |
| and includes any amount that is recoverable under paragraph 5(2) of |
| |
Schedule 11 to VATA 1994 (amounts shown on invoices as VAT). |
| |
(4) | “Relevant foreign tax” means— |
| |
(a) | a tax of a member State, other than the United Kingdom, which is |
| 20 |
covered by the provisions for the exchange of information under the |
| |
Directive of the Council of the European Communities No. 77/799/ |
| |
EEC (as amended from time to time), and |
| |
(b) | any tax or duty which is imposed under the law of a territory in |
| |
relation to which arrangements having effect by virtue of section 173 |
| 25 |
of FA 2006 (international tax enforcement arrangements) have been |
| |
made and which is covered by the arrangements. |
| |
| |
46 (1) | For the purposes of this Schedule data form part of a data-holder’s statutory |
| |
records if they are data that the data-holder is required to keep and preserve |
| 30 |
under or by virtue of any enactment relating to tax. |
| |
(2) | Data cease to form part of a data-holder’s statutory records when the period |
| |
for which the data are required to be preserved under or by virtue of that |
| |
| |
| 35 |
| |
“address” includes an electronic address; |
| |
“body of persons” has the same meaning as in TMA 1970; |
| |
“chargeable period” means a tax year, accounting period or other |
| |
period for which a tax is charged; |
| 40 |
“charity” has the meaning given by paragraph 1(1) of Schedule 6 to FA |
| |
| |
“the Commissioners” means the Commissioners for Her Majesty’s |
| |
| |
“company” has the meaning given by section 288(1) of TCGA 1992; |
| 45 |
|
| |
|
| |
|
“data” includes information held in any form; |
| |
“the data-holder”, in relation to a data-holder notice, means the person |
| |
to whom the notice is addressed; |
| |
“data-holder notice” is defined in paragraph 1; |
| |
“dividend” includes any kind of distribution; |
| 5 |
“document” includes a copy of a document (see also section 114 of FA |
| |
| |
“employment”, “employee” and “employer” have the same meaning as |
| |
in Parts 2 to 7 of ITEPA 2003 (see, in particular, sections 4 and 5 of |
| |
| 10 |
“HMRC” means Her Majesty’s Revenue and Customs; |
| |
“local authority” has the meaning given in section 999 of ITA 2007; |
| |
“provide” includes make available for inspection; |
| |
“specify” includes describe; |
| |
| 15 |
| |
(b) | debentures, including debenture stock, loan stock, bonds, |
| |
certificates of deposit and other instruments creating or |
| |
acknowledging indebtedness, and |
| |
(c) | warrants or other instruments entitling the holder to |
| 20 |
subscribe for or otherwise acquire anything within |
| |
| |
issued by or on behalf of a person resident in, or a government or |
| |
public or local authority of, any country (including a country outside |
| |
| 25 |
“shares” is to be construed in accordance with sections 99 and 103A of |
| |
| |
“tax functions” means functions relating to tax; |
| |
“the tribunal” means the First-tier Tribunal or, where determined by or |
| |
under the Tribunal Procedure Rules, the Upper Tribunal. |
| 30 |
48 | A reference in this Schedule to providing data includes— |
| |
(a) | preparing and delivering a return, statement or declaration, and |
| |
| |
49 (1) | A reference in this Schedule to the carrying on of a business also includes— |
| |
(a) | the letting of property, |
| 35 |
(b) | the activities of a charity, and |
| |
(c) | the activities of a government department, a local authority, a local |
| |
authority association or any other public authority. |
| |
(2) | “Local authority association” has the meaning given in section 1000 of ITA |
| |
| 40 |
| |
50 | This Schedule applies to the Crown but not to Her Majesty in Her private |
| |
capacity (within the meaning of the Crown Proceedings Act 1947). |
| |
|
| |
|
| |
|
| |
| |
| |
51 (1) | TMA 1970 is amended as follows. |
| |
| 5 |
(a) | section 13 (persons in receipt of taxable income belonging to others), |
| |
(b) | section 14 (return of lodgers and inmates), |
| |
(c) | section 15 (return of employees’ earnings etc), |
| |
(d) | section 15A (non-resident’s staff are UK client’s employees for |
| |
| 10 |
(e) | section 16 (fees, commissions etc), |
| |
(f) | section 16A (agency workers), |
| |
(g) | section 17 (interest paid or credited by banks, building societies etc |
| |
without deduction of income tax), |
| |
(h) | section 18 (interest paid without deduction of income tax), |
| 15 |
(i) | section 18A (other payments and licences etc), |
| |
(j) | section 19 (information for purposes of charge on profits of UK |
| |
property businesses or under Schedule A), |
| |
(k) | section 21 (stock jobbers’ transactions), |
| |
(l) | section 23 (power to obtain copies of registers of securities), |
| 20 |
(m) | section 24 (power to obtain information as to income from securities), |
| |
(n) | section 25 (issuing houses, stockbrokers, auctioneers etc), |
| |
(o) | section 26 (nominee shareholders), |
| |
(p) | section 27 (settled property), |
| |
(q) | section 76 (protection for certain trustees, agents and receivers), and |
| 25 |
(r) | section 77I (information from petroleum licence-holders). |
| |
(3) | In the Table in section 98 (special returns etc), omit the entries (so far as they |
| |
continue to have effect) relating to— |
| |
(a) | section 77I of TMA 1970, |
| |
(b) | paragraph 2 of Schedule 15 to FA 1973, |
| 30 |
(c) | sections 42, 217(4), 226(4) and 768(9) of ICTA, |
| |
(d) | paragraph 3 of Schedule 12 to FA 1989, |
| |
(e) | sections 302B and 647 of ITTOIA 2005, |
| |
(f) | section 241 of CTA 2009, and |
| |
(g) | sections 728, 1046(5) to (7) and 1097(1) and (2) of CTA 2010. |
| 35 |
| |
(a) | for the entry relating to section 31 of CTA 2010 substitute the |
| |
| |
“Section 31(3) and (4) of CTA 2010.”, |
| |
(b) | for the entry relating to section 465 of CTA 2010 substitute the |
| 40 |
| |
“Section 465(3) and (4) of CTA 2010.”, and |
| |
(c) | for the entry relating to section 1102 of CTA 2010 substitute the |
| |
| |
“Section 1102(4) and (5) of CTA 2010.” |
| 45 |
|
| |
|
| |
|
(5) | In section 103ZA (disapplication of sections 100 to 103)— |
| |
(a) | omit “or” at the end of paragraph (d), and |
| |
(b) | at the end of paragraph (e) insert “, or |
| |
(f) | Schedule 23 to FA 2011 (data-gathering powers).” |
| |
| 5 |
52 | In Schedule 15 to FA 1973 (territorial extension of charge to tax: |
| |
supplementary provisions), omit paragraph 2 so far as it continues to have |
| |
effect (see section 381 of TIOPA 2010). |
| |
| |
53 (1) | In section 24 of FA 1974 (returns of persons treated as employees), for the |
| 10 |
words from “section 15” to the end substitute “any notice given under |
| |
section 8 of the Taxes Management Act 1970 to the person performing the |
| |
duties (P) may require a return of P’s income to include particulars of any |
| |
general earnings paid to P.” |
| |
(2) | Sub-paragraph (1) applies so far as section 24 of FA 1974 continues to have |
| 15 |
effect (see section 381 of TIOPA 2010). |
| |
| |
54 | In Schedule 18 to FA 1986 (securities: other provisions), omit paragraph 8(4) |
| |
| |
| 20 |
55 | Omit the following provisions of ICTA so far as they continue to have effect |
| |
(see section 1184 of CTA 2010 and section 381 of TIOPA 2010)— |
| |
(a) | section 42(7) (information required to decide whether to give |
| |
provisional notice of determination), |
| |
(b) | section 217(4) (information about person for whom chargeable |
| 25 |
| |
(c) | section 226(4) (information about purchase by unquoted trading |
| |
company of its own shares), |
| |
(d) | section 768(9) (information about change in ownership of company: |
| |
disallowance of trading losses), and |
| 30 |
(e) | section 816(3) (disapplication of bank exemption). |
| |
| |
56 | In Schedule 12 to FA 1989 (close companies), omit paragraph 3 so far as it |
| |
continues to have effect (see section 1184 of CTA 2010). |
| |
| 35 |
57 (1) | ITTOIA 2005 is amended as follows. |
| |
(2) | In Chapter 4 of Part 3 (profits of property businesses: lease premiums etc), |
| |
omit section 302B(3) and (4). |
| |
(3) | In Chapter 5 of Part 5 (settlements: amounts treated as income of settlor), |
| |
| 40 |
|
| |
|
| |
|
| |
58 | In Schedule 2 to FA 2005 (alternative finance arrangements: further |
| |
provisions), omit paragraph 2 so far as it continues to have effect (see section |
| |
| |
| 5 |
59 | In Schedule 2 to CRCA 2005 (functions of Commissioners and officers: |
| |
restrictions etc), omit paragraph 2. |
| |
| |
60 | FA 2008 is amended as follows. |
| |
61 | In section 39 (dormant bank and building society accounts), in subsection |
| 10 |
| |
62 (1) | Schedule 36 (information and inspection powers) is amended as follows. |
| |
| |
(3) | In paragraph 61A (involved third parties)— |
| |
(a) | in sub-paragraph (2), omit ““relevant information”,”, |
| 15 |
(b) | in each entry in the second column of the Table, for “Information and |
| |
documents” substitute “Documents”, and |
| |
(c) | accordingly, in the heading of that column, omit “information and |
| |
| |
| 20 |
63 | In Chapter 4 of Part 4 of CTA 2009 (profits of property businesses: lease |
| |
premiums etc), omit section 241(3) and (4). |
| |
| |
64 (1) | CTA 2010 is amended as follows. |
| |
| 25 |
(a) | section 31(1) (companies with small profits: power to obtain |
| |
| |
(b) | section 465(1) (close companies: power to obtain information), |
| |
(c) | section 728 (provision of information about ownership of shares etc), |
| |
(d) | section 1046(5) to (7) (information about purchase by unquoted |
| 30 |
trading company of its own shares), |
| |
(e) | section 1097 (information about person for whom chargeable |
| |
payment is received), and |
| |
(f) | section 1102(2) (non-qualifying distributions etc: additional |
| |
| 35 |
(3) | In section 1109 (tax credits for certain recipients of exempt qualifying |
| |
distributions), in subsection (4), for “1102(2)” substitute “1102(3)”. |
| |
|
| |
|
| |
|
| |
Application of this Schedule |
| |
| |
(a) | comes into force on 1 April 2012, and |
| |
(b) | applies from then on to relevant data with a bearing on any period |
| 5 |
(whether before, on or after that date), subject to paragraph 3(2). |
| |
(2) | The provisions repealed or otherwise amended by Part 6 of this Schedule |
| |
continue to have effect in relation to notices given, or requests made, |
| |
pursuant to any of the repealed provisions before 1 April 2012 as if the |
| |
repeals and other amendments had not been made. |
| 10 |
| |
| |
Amendments of Schedule 36 FA 2008 |
| |
1 | Schedule 36 to FA 2008 (information and inspection powers) is amended as |
| |
| |
2 (1) | Paragraph 5 (power to obtain information and documents about persons |
| 15 |
whose identity is not known) is amended as follows. |
| |
(2) | In sub-paragraph (2), omit “UK”. |
| |
(3) | In sub-paragraph (4)— |
| |
(a) | in paragraph (b), for the words from “the Taxes Acts” to the end |
| |
substitute “the law (including the law of a territory outside the |
| 20 |
United Kingdom) relating to tax,” and |
| |
(b) | in paragraph (c), omit “UK”. |
| |
(4) | Omit sub-paragraph (5). |
| |
(5) | The amendments made by this paragraph— |
| |
(a) | come into force on 1 April 2012, and |
| 25 |
(b) | apply from then on in relation to tax regardless of when the tax |
| |
became due (whether before, on or after that date). |
| |
3 (1) | Paragraph 40A (penalties for inaccurate information and documents) is |
| |
| |
(2) | In sub-paragraph (1)(b), for “A or B” substitute “A, B or C”. |
| 30 |
(3) | After sub-paragraph (3) insert— |
| |
“(3A) | Condition B is that the person knows of the inaccuracy at the time |
| |
the information is provided or the document produced but does |
| |
not inform HMRC at that time.” |
| |
(4) | In sub-paragraph (4), for “B” substitute “C”. |
| 35 |
(5) | The amendments made by this paragraph have effect in relation to any |
| |
inaccuracy in information provided, or in documents produced, on or after |
| |
| |
|
| |
|
| |
|
4 (1) | After paragraph 49 insert— |
| |
“Increased daily default penalty |
| |
49A (1) | This paragraph applies if— |
| |
(a) | a penalty under paragraph 40 is assessed under paragraph |
| |
46 in respect of a person’s failure to comply with a notice |
| 5 |
| |
(b) | the failure continues for more than 30 days beginning with |
| |
the date on which notification of that assessment was |
| |
| |
(c) | the person has been told that an application may be made |
| 10 |
under this paragraph for an increased daily penalty to be |
| |
| |
(2) | If this paragraph applies, an officer of Revenue and Customs may |
| |
make an application to the tribunal for an increased daily penalty |
| |
to be imposed on the person. |
| 15 |
(3) | If the tribunal decides that an increased daily penalty should be |
| |
imposed, then for each applicable day (see paragraph 49B) on |
| |
which the failure continues— |
| |
(a) | the person is not liable to a penalty under paragraph 40 in |
| |
respect of the failure, and |
| 20 |
(b) | the person is liable instead to a penalty under this |
| |
paragraph of an amount determined by the tribunal. |
| |
(4) | The tribunal may not determine an amount exceeding £1,000 for |
| |
| |
(5) | But subject to that, in determining the amount the tribunal must |
| 25 |
| |
(a) | the likely cost to the person of complying with the notice, |
| |
(b) | any benefits to the person of not complying with it, and |
| |
(c) | any benefits to anyone else resulting from the person’s |
| |
| 30 |
(6) | Paragraph 41 applies in relation to the sum specified in sub- |
| |
paragraph (4) as it applies in relation to the sums mentioned in |
| |
| |
49B (1) | If a person becomes liable to a penalty under paragraph 49A, |
| |
HMRC must notify the person. |
| 35 |
(2) | The notification must specify the day from which the increased |
| |
| |
(3) | That day and any subsequent day is an “applicable day” for the |
| |
purposes of paragraph 49A(3). |
| |
49C (1) | A penalty under paragraph 49A must be paid before the end of the |
| 40 |
period of 30 days beginning with the date on which the |
| |
notification under paragraph 49B is issued. |
| |
(2) | A penalty under paragraph 49A may be enforced as if it were |
| |
income tax charged in an assessment and due and payable.” |
| |
|
| |
|