Finance Act 1989
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Change 1
73 Information.
(1) An inspector may by notice in writing require a return to be made by the trustees of an employee share ownership trust if they have at any time received a sum which has been deducted as mentioned in section 67(2)(a) above or treated as mentioned in section 67(2)(b) above. (2) Where he requires such a return to be made the inspector shall specify the information to be contained in it. (3) The information which may be specified is information the inspector needs for the purposes of sections 68 to 72 above, and may include information about— (a) sums received (including sums borrowed) by the trustees; (b) expenditure incurred by them; (c) assets acquired by them; (d) transfers of assets made by them. (4) The information which may be required under subsection (3)(a) above may include the persons from whom the sums were received. (5) The information which may be required under subsection (3)(b) above may include the purpose of the expenditure and the persons receiving any sums. (6) The information which may be specified under subsection (3)(c) above may include the persons from whom the assets were acquired and the consideration furnished by the trustees. (7) The information which may be included under subsection (3)(d) above may include the persons to whom assets were transferred and the consideration furnished by them. (8) In a case where a sum has been deducted as mentioned in section 67(2)(a)above, or treated as mentioned in section 67(2)(b) above, the inspector shall send to the trustees to whom the payment was made a certificate stating— (a) that a sum has been so deducted or so treated, and (b) what sum has been so deducted or so treated. (9) In the Table in section 98 of the Taxes Management Act1970 (penalties for failure to comply with notices etc.) at the end of the first column there shall be inserted— “ Section 73 of the Finance Act 1989 ”.
73 Information.
(1) An inspector may by notice in writing require a return to be made by the trustees of an employee share ownership trust if they have at any time received a sum which has been deducted as mentioned in section 67(2)(a) above or treated as mentioned in section 67(2)(b) above. (2) Where he requires such a return to be made the inspector shall specify the information to be contained in it. (3) The information which may be specified is information the inspector needs for the purposes of sections 68 to 72 above, and may include information about— (a) sums received (including sums borrowed) by the trustees; (b) expenditure incurred by them; (c) assets acquired by them; (d) transfers of assets made by them. (4) The information which may be required under subsection (3)(a) above may include the persons from whom the sums were received. (5) The information which may be required under subsection (3)(b) above may include the purpose of the expenditure and the persons receiving any sums. (6) The information which may be specified under subsection (3)(c) above may include the persons from whom the assets were acquired and the consideration furnished by the trustees. (7) The information which may be included under subsection (3)(d) above may include the persons to whom assets were transferred and the consideration furnished by them. (8) In a case where a sum has been deducted as mentioned in section 67(2)(a)above, or treated as mentioned in section 67(2)(b) above, the inspector shall send to the trustees to whom the payment was made a certificate stating— (a) that a sum has been so deducted or so treated, and (b) what sum has been so deducted or so treated. (9) In the Table in section 98 of the Taxes Management Act1970 (penalties for failure to comply with notices etc.) at the end of the first column there shall be inserted— “ Section 73 of the Finance Act 1989 ”.
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