817H Duty of person where legal professional privilege claimed

Summary

This section deals with a situation where legal professional privilege (LPP) can be successfully asserted in relation to a promoter. In such cases, the duty to disclose falls on any person who enters into any transaction forming part of the disclosable transaction but the promoter must advise such persons of their obligation to disclose in that regard. The promoter must also advise the Revenue Commissioners that the promoter’s duty to disclose is not being complied with because of legal professional privilege.

Details

(1) Where a promoter does not comply with the provisions of section 817E (duty of promoter to disclose) because of the “exemption” provided by section 817J (dealing with legal professional privilege), the duty to disclose falls on any person who enters into any transaction forming part of the disclosable transaction i.e. the scheme user.

(2) The promoter claiming legal professional privilege must advise clients to whom the scheme has been made available for implementation of their obligation to disclose.

(3) A promoter claiming legal professional privilege must advise the Revenue Commissioners, within the specified period, that the promoter’s duty to disclose is not being complied with because of legal professional privilege.

Relevant Date: Finance Act 2021