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HMRC internal manual

Bank Levy Manual

Collection and management: responsible member for groups: transitional rules before Finance Act 2011 received Royal Assent

Paragraph 65 of Schedule 19

If the chargeable period started on or before the date on which Finance Act 2011 received Royal Assent there were special transitional rules that enabled the nomination process to operate.

In these circumstances any nomination of an entity to be the responsible member for the group under paragraph 65(2) had to be made within 7 days of the Finance Act 2011 receiving Royal Assent. This took the place of the normal 45 day time limit prescribed in paragraph 54(3)(c).

The transitional rules allowed HMRC to publish a statement stating that it was ready to receive nominations for responsible members prior to Finance Act 2011 receiving Royal Assent and to set out the information that was required to be provided as part of that process.This statement and these details (PDF 18KB) () were originally published on 3 March 2011.

Providing the nomination was made in accordance with HMRC’s statement and included all the information required, HMRC treated such nominations as being made immediately after Finance Act 2011 received Royal Assent. This allowed groups and HMRC to consider nominations prior to the Act being passed.

The transitional rules required that HMRC may reject any nomination within 7 days of its receipt of the nomination. This took the place of the normal 30 day time limit following receipt of the nomination prescribed in paragraph 55(5)(BKLM442100).