Section 12ABZA | Partnership returns: overseas partners in investment partnerships etc

(1)There is no requirement for a partnership return to include a declaration of the tax reference of a person (see section 12AA(6)(a)) if—

(a)the person is not chargeable to income tax or corporation tax for the period, or for a period which includes any part of the period, in respect of which the partnership return is made,

(b)the partnership does not carry on a trade or profession or a UK property business at any time during the period in respect of which the partnership return is made,

(c)the whole of that period is a period in respect of which the partnership is required to set out information about the person in one or more relevant returns, and

(d)the partnership return includes a statement that the condition in paragraph (c) is met.

(2)In subsection (1)(c) “relevant return” means a return under the International Tax Compliance Regulations 2015 (S.I. 2015/878).

(3)If, in reliance on this section, the partnership return does not include a declaration of the tax reference of a person but the partnership does not comply with the requirement mentioned in subsection (1)(c), the partner required to make and deliver the partnership return, or that partner's successor, must give notice to HMRC specifying the tax reference.

(4)The notice must be given within the period of 12 months beginning with the filing date for the partnership return.

(5)The Commissioners for Her Majesty's Revenue and Customs may by regulations made by statutory instrument amend the definition of “relevant return” in subsection (2).

(6)A statutory instrument containing regulations under subsection (5) is subject to annulment in pursuance of a resolution of the House of Commons.

(7)In this section “filing date” has the same meaning as in section 12ABA.