Citation, commencement, transitional provision and interpretation

1. —(1) These Regulations may be cited as the Tax Avoidance Schemes (Promoters, Prescribed Circumstances and Information) (Amendment) Regulations 2004.

(2) These Regulations shall come into force on 14th October 2004.

(3) In any case where the latest time at which a person would by virtue of regulation 4(5A) of the Information Regulations( 2 ), be required to provide information to the Board under section 310 of the Finance Act 2004 would be earlier than 19th November 2004, the latest time at which that information shall be required to be provided shall instead be 19th November 2004.

(4) In these Regulations—

“the Information Regulations” means the Tax Avoidance Schemes (Information) Regulations 2004( 3 ); and

“the Promoters Regulations” means the Tax Avoidance Schemes (Promoters and Prescribed Circumstances) Regulations 2004( 4 ).

Amendment of the Promoters Regulations

2. At the end of the Promoters Regulations add—

“ Persons not to be treated as promoters: legal professional privilege

6. A person is not to be treated as a promoter in relation to a notifiable proposal or notifiable arrangements where his involvement with the proposal or arrangements is such that he is not required to provide all of the information prescribed in paragraph (1) or (2) (as the case may be) of regulation 3 of the Tax Avoidance Schemes (Information) Regulations 2004 by virtue of section 314 (legal professional privilege). ” .

Amendment of the Information Regulations

3. —(1) Regulation 4 of the Information Regulations is amended as follows.

(2) At the end of paragraph (5) add—

• “ This is subject to the following qualification. ” .

(3) After paragraph (5) insert—

“ (5A) In the case of a notification under section 310 which arises by virtue of the application of regulation 6 of the Tax Avoidance Schemes (Promoters and Prescribed Circumstances) Regulations 2004 (persons not to be treated as promoters: legal professional privilege), the prescribed time is any time during the period of 5 days beginning with the day after the day on which the person enters into the first transaction forming part of the notifiable arrangements. ” .