Amendments 3 to 5 to Schedule 6: Imposing information requirements for creative sector relief to provide for consequences of non-compliance short of the total invalidity of the claim
Published 29 January 2024
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Summary
- These amendments allow regulations imposing information requirements for creative sector relief to provide for consequences of non-compliance short of the total invalidity of the claim (for instance, by making a claim invalid only so far as it relates to certain items of expenditure).
Details of the amendment
2. Amendment 3 amends new paragraph 83WA of Schedule 18 to the Finance Act 1998. It removes sub-paragraph (1), removing the automatic consequence that failure to provide information required by regulations results in the invalidation of an entire claim to tax relief. A replacement provision allows HMRC to specify the consequences of failure to provide required information within the regulations themselves, whether that be partial or complete invalidation of a claim.
3. Amendment 3 also clarifies that the regulations may specify by what time required information must be submitted to HMRC.
Background note
4. These amendments have effect for claims made on or after 1 April 2024.