The obligation to disclose notifiable arrangements or proposals normally falls upon the promoter1, but if there is either no promoter involved or no promoter who is involved is resident in the United Kingdom, the obligation falls on any person who enters into any transaction forming part of the notifiable arrangements2. If, however, a non-resident promoter voluntarily discloses the required information about the arrangements, this removes the obligation from any persons entering into transactions forming part of those arrangements3.
In the case of a notifiable proposal4, the promoter must provide the required information5 to HM Revenue and Customs within five days5
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