Commentary

D9.131 Furnishing of information

Corporate tax
Corporate tax | Commentary

D9.131 Furnishing of information

Corporate tax | Commentary

D9.131 Furnishing of information

Where it appears to an HMRC officer that the transactions in securities provisions may apply to a person, they may (under the information and inspection powers at FA 2008, Sch 36 (A6.316)), serve a notice to supply information with respect to the transaction or transactions. Penalties may be imposed for failure to supply the required information1.

This power to seek information is discretionary and must be used by HMRC reasonably, not misdirecting themselves as to the law, not taking into account irrelevant considerations and not failing to take into account relevant considerations. The exercise of this discretion

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