The provisions, as described, should be targeted at least initially at marketed schemes that are being promoted. The clause imposes an obligation on a taxpayer who enters into arrangements without the involvement of outside advisers. Such an obligation should be limited to his final ordinary, self-assessment requirements, and the clause illustrates the fundamental point that I have been trying to make throughout, namely that the requirements have moved well wide of the reporting of unacceptable schemes.
I am surprised at the hon. Gentleman's remarks, because the second word in the clause is ''person'', and that can apply to a company. A company may have in-house advice and no external promoter, but with in-house advice it may be setting up a tax-avoidance scheme that could and should be notifiable. The clause would cover that, and the clauses relating to promoters that we discussed earlier would not.
I accept that ''person'' could mean a company. However, I was seeking to make a point about a person as an individual, and not about in-house arrangements.
Question put and agreed to.
Clause 294, as amended, ordered to stand part of the Bill.