Section 312A — Finance Act 2008: Duty of client to notify parties of number

Duty of client to notify parties of number 312A 1 This section applies where a person (a “client”) to whom a person who is a promoter in relation to notifiable arrangements or a notifiable proposal is providing (or has provided) services in connection with the notifiable arrangements or notifiable proposal receives prescribed information relating to the reference number allocated to the notifiable arrangements or proposed notifiable arrangements.

2 The client must, within the prescribed period, provide prescribed information relating to the reference number to any other person—

a who the client might reasonably be expected to know is or is likely to be a party to the arrangements or proposed arrangements, and b who might reasonably be expected to gain a tax advantage in relation to any relevant tax by reason of the arrangements or proposed arrangements.

3 For the purposes of subsection (1) a tax is a “ relevant tax ” in relation to arrangements or arrangements proposed in a proposal of any description if it is prescribed in relation to arrangements or proposals of that description by regulations under section 306.

4 HMRC may give notice that, in relation to notifiable arrangements or a notifiable proposal specified in the notice, persons are not under the duty under subsection (2) after the date specified in the notice.

5 The duty under subsection (2) does not apply in prescribed circumstances.