817HA Duties of person who obtains tax advantage

Summary

This section deals with the duties of a person who obtains, or seeks to obtain, a tax advantage from a disclosable transaction. That person is a chargeable person and must file a Form 11 or Form CT1 for each year in which the transaction is entered into or in which a tax advantage is obtained or sought, and that person must include the transaction number on that Form 11 or Form CT1, as appropriate.

Details

(1) Every person who obtains, or seeks to obtain, a tax advantage from a disclosable transaction is a chargeable person, within the meaning of Part 41A. This means that they must file a tax return and pay any preliminary tax required.

(2) A person who enters into a disclosable transaction must provide any other person who seeks to obtain a tax advantage (e.g. an employer must provide an employee) with the transaction number so that that person can comply with their obligations under subsection (3).

(3) A person who obtains, or seeks to obtain, a tax advantage from a disclosable transaction must include the transaction number on the Form 11 or Form CT1 (as appropriate) that that person is required to file under Part 41A, for each year in which that person enters into a transaction that is part of the disclosable transaction and for each year that they obtain, or seek to obtain, a tax advantage.

(4) A person who was not provided with a transaction number, either because the transaction was not assigned a number or because the transaction was not disclosed, will be deemed to have complied with the obligation to include the transaction number under subsection (3) if they instead provide Revenue with the specified information in relation to the transaction.

Relevant Date: Finance Act 2021