IFM09670 | Ceasing to be a RIF: Cessation notice given to RIF operator - Regulation 24: Time cessation notices take effect

Where a cessation notice relates to failures by the operator of a RIF to provide specified information to HMRC as required under Regulations 37 and 38, the scheme ceases to be a RIF from the beginning of the day on which the notice is given to the operator.

Where a cessation notice is given where either:

• a designated HMRC officer has determined that it is reasonable to do so to safeguard the public revenue

• an officer of HMRC has determined that a RIF has breached one or more qualifying conditions but the operator of the RIF has failed to give a required notice to that effect

the scheme ceases to be a RIF from the beginning of the day specified in the notice. Where the notice relates to failing to give notice that a RIF has breached one or more qualifying conditions, it may not specify a day earlier than the first day of a period of 12 months ending with the date on which the notice was given.

This is subject to applicable appeal processes.