The Co-ownership Contractual Schemes (Tax) Regulations 2025
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
23 Relevant declarations in entry notice
(1) This regulation applies where— (a) a RIF ceases to be a RIF as a result of ceasing to meet a qualifying condition or an exit notice being given in relation to the scheme, and (b) the RIF has been a RIF for a continuous period of less than two years at the time that it ceases to be a RIF. (2) A designated HMRC officer must determine that the RIF is to be treated as if the entry notice had never been given in relation to it where— (a) a relevant declaration was made by an operator of a RIF in the entry notice given in relation to the RIF, and (b) the designated HMRC officer has reasonable grounds to believe that the operator of the RIF— (i) did not have the intention referred to in the declaration, or (ii) could not reasonably have had the expectation referred to in the declaration. (3) Where a determination under paragraph (2) is made, this does not affect any penalties imposed under regulation 40. (4) Where a determination under paragraph (2) is made for a scheme to which regulation 28 applied— (a) the determination does not affect any land transaction treated as occurring under that regulation, (b) a land transaction which is the acquisition of chargeable interests by the participants in the scheme from the scheme is treated as occurring on the date the determination was made, (c) any consideration in respect of the land transaction is disregarded for the purposes of paragraph 1 of Schedule 4 to FA 2003, (d) paragraph 8 of Schedule 4 to FA 2003 does not apply to the land transaction, and (e) the land transaction is not a notifiable transaction within the meaning given by section 77 FA 2003. (5) A determination under paragraph (2) must be made by notice given by the designated HMRC officer to the operator of the RIF. (6) A notice under paragraph (5) must include— (a) the date of the determination, and (b) the reasons for the determination. (7) The operator of the RIF must notify each participant in the RIF of any determination under paragraph (2) within the period of 30 days beginning with the day on which the notice under paragraph (5) was given to the operator. (8) The operator of the RIF may bring an appeal against a determination under paragraph (2). (9) The appeal must be made by notice given to HMRC within the period of 30 days beginning with the day on which the notice of the determination was given to the operator of the RIF. (10) Where a notice is given to HMRC, the scheme is to be treated as if the determination under paragraph (2) had not been made until the appeal is determined or withdrawn. (11) On an appeal that is notified to the tribunal, the tribunal must determine whether the designated HMRC officer had reasonable grounds to make the determination. (12) The tribunal may affirm or quash the determination. (13) In this regulation— “chargeable interests” has the meaning given by regulation 28(6)(a); “designated HMRC officer” means an officer of HMRC who has been designated by the Commissioners for HMRC for the purposes of this regulation; “relevant declaration” means a declaration under regulation 4(1)(e), 9(1)(b) or 13(1)(b).
23 Relevant declarations in entry notice
(1) This regulation applies where— (a) a RIF ceases to be a RIF as a result of ceasing to meet a qualifying condition or an exit notice being given in relation to the scheme, and (b) the RIF has been a RIF for a continuous period of less than two years at the time that it ceases to be a RIF. (2) A designated HMRC officer must determine that the RIF is to be treated as if the entry notice had never been given in relation to it where— (a) a relevant declaration was made by an operator of a RIF in the entry notice given in relation to the RIF, and (b) the designated HMRC officer has reasonable grounds to believe that the operator of the RIF— (i) did not have the intention referred to in the declaration, or (ii) could not reasonably have had the expectation referred to in the declaration. (3) Where a determination under paragraph (2) is made, this does not affect any penalties imposed under regulation 40. (4) Where a determination under paragraph (2) is made for a scheme to which regulation 28 applied— (a) the determination does not affect any land transaction treated as occurring under that regulation, (b) a land transaction which is the acquisition of chargeable interests by the participants in the scheme from the scheme is treated as occurring on the date the determination was made, (c) any consideration in respect of the land transaction is disregarded for the purposes of paragraph 1 of Schedule 4 to FA 2003, (d) paragraph 8 of Schedule 4 to FA 2003 does not apply to the land transaction, and (e) the land transaction is not a notifiable transaction within the meaning given by section 77 FA 2003. (5) A determination under paragraph (2) must be made by notice given by the designated HMRC officer to the operator of the RIF. (6) A notice under paragraph (5) must include— (a) the date of the determination, and (b) the reasons for the determination. (7) The operator of the RIF must notify each participant in the RIF of any determination under paragraph (2) within the period of 30 days beginning with the day on which the notice under paragraph (5) was given to the operator. (8) The operator of the RIF may bring an appeal against a determination under paragraph (2). (9) The appeal must be made by notice given to HMRC within the period of 30 days beginning with the day on which the notice of the determination was given to the operator of the RIF. (10) Where a notice is given to HMRC, the scheme is to be treated as if the determination under paragraph (2) had not been made until the appeal is determined or withdrawn. (11) On an appeal that is notified to the tribunal, the tribunal must determine whether the designated HMRC officer had reasonable grounds to make the determination. (12) The tribunal may affirm or quash the determination. (13) In this regulation— “chargeable interests” has the meaning given by regulation 28(6)(a); “designated HMRC officer” means an officer of HMRC who has been designated by the Commissioners for HMRC for the purposes of this regulation; “relevant declaration” means a declaration under regulation 4(1)(e), 9(1)(b) or 13(1)(b).
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.