593. Notifiable arrangements or proposals.

There are obligations placed upon certain persons to provide HM Revenue and Customs with prescribed information about tax avoidance schemes if they fall within the definition of notifiable arrangements or notifiable proposals1.

Notifiable arrangements are those which:

  1.  

    (1)     fall within any description as prescribed by Treasury regulations2;

  2.  

    (2)     enable, or might be expected to enable, any person to obtain an advantage3 in relation to any tax that is so prescribed in relation to arrangements of that description; and