Section 257 | Exemptions from digital reporting requirements

(1)Part 3 of Schedule A1 to TMA 1970 (as inserted by section 60 of F(No.2)A 2017) is amended as follows.

(2)In paragraph 14 (exemption for the digital excluded), after sub-paragraph (1) insert—

(1A)The regulations may provide that where the Commissioners are satisfied that a person or partnership is digitally excluded, prior requirements imposed on the person or partnership are to be treated as never having been imposed.

(1B)In sub-paragraph (1A) “prior requirements” means requirements imposed by regulations under paragraphs 7, 9 and 11 which are required to be complied with before the date on which the Commissioners are satisfied that the person or partnership is digitally excluded.

(3)In paragraph 15 (further exemptions)—

(a)in sub-paragraph (1), at the end insert “, including exemptions the conditions of which are to be taken to be satisfied only where the Commissioners are satisfied as to specified matters”;

(b)after sub-paragraph (2) insert—

(3)The regulations may provide that where the conditions of a further exemption are met by a person or partnership, prior requirements imposed on the person or partnership are to be treated as never having been imposed.

(4)In sub-paragraph (3) “prior requirements”, in relation to a further exemption, means requirements imposed by regulations under paragraphs 7, 9 and 11 which are required to be complied with before the date on which the conditions of the further exemption are met.

(5)The regulations may allow any exemption for which the regulations may provide to be given by means of a specific or general direction given by the Commissioners.

(4)The amendments made by this section come into force on the same day as section 60 of F(No.2)A 2017 comes into force.