Part 4 Restriction of Reliefs
Finance Act 2016 (2016 c 24) | Legislation

Part 4 Restriction of Reliefs

Duty to give a restriction relief notice

19

(1)     HMRC must give a person a written notice (a “restriction of relief noticeâ€) if—

(a)     the person incurs a relevant defeat in relation to arrangements which the person has used in a warning period,

(b)     the person has been given at least two warning notices in respect of other relevant defeats of arrangements which were used in that same warning period, and

(c)     the defeats mentioned in paragraphs (a) and (b) meet the conditions in sub-paragraph (2).

(2)     The conditions are—

(a)     that each of the relevant defeats is by virtue of Condition A, B or C,

(b)     that each of the relevant defeats relates to the misuse of a relief (see sub-paragraph (5)), and

(c)     in the case of each of the relevant defeats, either—

(i)     that the relevant counteraction (see sub-paragraph (7)) was made on the basis that a particular avoidance-related rule applies in relation to a person's affairs, or

(ii)     that the misused relief is a loss relief.

(3)     In sub-paragraph (2)(c)—

(a)     the “misused relief†means the relief mentioned in sub-paragraph (5), and

(b)     “loss reliefâ€

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