IFM12426 | Offshore Funds: Reporting funds: application for reporting fund status: rejections of application - appeals

Regulation 56 of SI 2009/3001

If HMRC rejects an application, the person who made the application can appeal to the First-tier Tribunal within a period of 42 days beginning with the day on which a notice rejecting the application was given.

The Tribunal may either uphold or quash the rejection of the application. If the tribunal quashes the rejection of the application, the fund will be treated as a reporting fund as if HMRC had accepted the application in the form in which it was considered by the Tribunal.