Announcement of Reforms Will Help Strengthen Agricultural Sector in Uruguay on August 30, 1984

In this Act “Saving Gateway account” means an account which—

Matters relating to Saving Gateway accounts are to be under the management of the Commissioners for Her Majesty’s Revenue and Customs (“the Commissioners”).

In subsection (1)(a), “the relevant date” means—

The Commissioners must issue a notice of eligibility to each eligible person (within the meaning given by section 3).

A notice of eligibility—

Regulations may provide that the Commissioners may, in prescribed circumstances, issue a further notice of eligibility to an eligible person where—

A person is an “eligible person” for the purposes of this Act if—

Those benefits and tax credits are—

For the purposes of subsection (1), a person is “entitled” to a benefit or tax credit whether the person is entitled to the benefit or tax credit alone or with another person.

A person is not an eligible person by reason of entitlement to a carer’s allowance unless—

Regulations may provide that a person is an eligible person by reason of entitlement (alone or with another person) to child tax credit or working tax credit only if prescribed conditions are satisfied.

Regulations under subsection (5) may, in particular—

An order may add a benefit or tax credit to the list in subsection (2), or remove or amend a paragraph of that subsection.

An order under subsection (7) may make consequential amendments to this section and may, in particular, amend subsection (5) or (6) or make provision corresponding to either or both of those subsections.

A Saving Gateway account may be held only with a person (an “approved account provider”) who has been approved by the Commissioners in accordance with regulations.

An account is not a Saving Gateway account unless—

Regulations under subsection (2)(a) may not prescribe a period of less than 12 months.

Regulations under subsection (2)(c) may, in particular, impose a limit on the amount which may be paid into a Saving Gateway account in a month (excluding any interest or other sums paid by the account provider under the terms of the account).

In this section, “month” means a calendar month beginning with the 1st of the month and ending with the last day of the month (and when a person opens an account, the period beginning with the day on which the account is opened and ending with the last day of the month is treated for the purposes of this Act as the first month of the account’s operation).

Regulations under section 4(1) may include provision enabling the Commissioners—

Regulations may require an account provider whose approval has been or is to be withdrawn to provide prescribed information to prescribed account holders.

A person who receives a notice of eligibility may apply to open a Saving Gateway account with an approved account provider.

The application must—

When an application is made in accordance with this section, the account provider must open a Saving Gateway account for the person, unless the circumstances are as specified by regulations under subsection (4).

Regulations may specify circumstances in which an account provider may or must refuse to open a Saving Gateway account for a person.

Regulations may make provision—

The maturity payment in relation to a Saving Gateway account is to be calculated by multiplying A by B where— A is the number of whole pounds in the qualifying balance of the account, and B is an amount of money (in pence) specified in regulations.

The “qualifying balance” of a Saving Gateway account is the highest balance achieved during the maturity period.

In finding any balance for the purposes of subsection (2), the following are to be disregarded—

The account provider must pay the maturity payment to the account holder within a period, prescribed by regulations, beginning with the end of the maturity period.

Nothing is payable by virtue of this section where a Saving Gateway account is closed before the end of the maturity period.

Regulations may —

Section 234A of the Income and Corporation Taxes Act 1988 (c. 1) (duty to provide statement of distribution) does not apply to an account provider in relation to a Saving Gateway account.

Regulations may require a person who is or was an approved account provider to submit returns of information relating to Saving Gateway accounts, or former Saving Gateway accounts, to the Commissioners.

The regulations may make provision about—

Regulations may, in particular, provide for a return to include—

The Commissioners must pay to the person, within the period specified in regulations, any amount claimed under regulations made under subsection (3)(a).

Regulations may make provision requiring, in prescribed circumstances, a person of a prescribed description to account to the Commissioners for an amount paid by the Commissioners in pursuance of this Act.

Regulations may also provide that an amount to be accounted for under this section is to be treated for the purposes of Part 6 of the Taxes Management Act 1970 (c. 9) (collection and recovery) as if it were tax charged in an assessment and due and payable.

Regulations may provide that a person ceases to be required to account for an amount after the end of a prescribed period.

Regulations may provide for interest to be payable, in prescribed circumstances, on any amount payable to the Commissioners under or by virtue of this Act.

Regulations may also provide for the payment of interest by the Commissioners where an amount claimed under regulations made under section 11(3)(a) is not paid within the period specified in regulations made under section 11(4).

Regulations under this section may—

Regulations may make provision for and in connection with giving relief, in respect of a payment made by an account provider to or in relation to a Saving Gateway account, from—

Provision made by virtue of this section may disapply, or modify the effect of, any enactment relating to income tax or capital gains tax.

Regulations under this section may require a prescribed person, in prescribed circumstances, to account to the Commissioners—

This section applies to a Saving Gateway account which would be treated, by virtue of section 49 or 49A of the Finance Act 2005 (c. 7), as an alternative finance arrangement but for the payment of a maturity payment or a death payment.

A Saving Gateway account to which this section applies is to be treated, for the purposes of Chapter 5 of Part 2 of the Finance Act 2005, as an alternative finance arrangement.

In this section “alternative finance arrangement” has the meaning given by section 46 of the Finance Act 2005.

This section applies to an account which ceases to be a Saving Gateway account by virtue of regulations under section 10.

Regulations may make provision about—

Regulations may, in particular—

Regulations may require, or authorise officers of Revenue and Customs to require, a relevant person—

The following are relevant persons—

Regulations may include provision requiring documents to be made available or information or documents to be provided—

In section 121F(2) of the Social Security Administration Act 1992 (c. 5) (supply of information to Her Majesty’s Revenue and Customs), after “health in pregnancy grant,” insert “Saving Gateway accounts,”.

In section 115E(2) of the Social Security Administration (Northern Ireland) Act 1992 (c. 8) (supply of information to Her Majesty’s Revenue and Customs), after “health in pregnancy grant,” insert “Saving Gateway accounts,”.

A penalty of £300 may be imposed on a person who deliberately makes an incorrect declaration under section 6(2)(b).

A penalty not exceeding £3,000 may be imposed on—

Where— the inaccuracy is to be treated for the purposes of this section as the result of that person’s carelessness.

Penalties may be imposed on—

The penalties which may be imposed under subsection (1) are—

No penalty under subsection (1) may be imposed on a person in respect of a failure after the failure has been remedied.

For the purposes of subsection (1) a person is to be taken not to have failed to do a thing by a particular time—

For the purposes of subsection (4)—

A penalty may be imposed on an account provider if the account provider—

The penalty which may be imposed under subsection (1) on the account provider is a penalty not exceeding— whichever is the greater.

A supplementary penalty may be imposed under subsection (1) if an earlier penalty was based on an underestimate of the number of accounts affected.

It is for the Commissioners to impose a penalty under section 19, 20 or 21.

A decision to impose a penalty may not be made after the end of 12 months beginning with the relevant date.

In subsection (2) “the relevant date” means—

In subsection (3)(a), “the appeal period” means the period during which—

If the Commissioners decide to impose a penalty, they must give notice of the decision to the person on whom the penalty is imposed.

The Commissioners may, in their discretion, reduce a penalty after a notice has been given.

A penalty must be paid within 30 days beginning with the date on which the notice of the penalty was issued.

A notice must specify—

A penalty is to be treated for the purposes of Part 6 of the Taxes Management Act 1970 (c. 9) (collection and recovery) as if it were tax charged in an assessment and due and payable.

A person may appeal against a decision by the Commissioners—

A person who is required, under regulations made under section 12 or 14, to account for an amount may appeal against the decision to impose the requirement.

A person on whom a penalty under section 19, 20 or 21 is imposed may appeal against the decision to impose the penalty.

A person on whom a penalty under section 19(2), 20 or 21 is imposed may appeal against the amount of the penalty.

Notice of an appeal under section 23 must be given to the Commissioners within 30 days after the date on which notice of the decision was given.

Notice of a tax appeal or a Northern Ireland appeal must—

In subsection (2)—

Regulations may apply any provision of an enactment specified in subsection (5), with or without modifications, to an appeal under section 23.

Those enactments are—

An order may add an enactment to the list in subsection (5), remove an enactment from the list or amend an entry in the list.

In this section “the tribunal” means—

On an appeal under section 23(1) or (2), the tribunal may—

On an appeal under section 23(3) or (4), the tribunal may—

In addition to any right of appeal on a point of law under section 11(2) of the Tribunals, Courts and Enforcement Act 2007 (c. 15), a person who is found liable to a penalty by the First-tier Tribunal has a right of appeal to the Upper Tribunal, and on such an appeal the Upper Tribunal has a similar jurisdiction to that conferred on the tribunal by subsection (3).

For the purposes of Article 15 of the 1998 Order, a decision of an appeal tribunal constituted under Chapter 1 of Part 2 of the 1998 Order (a “Northern Ireland tribunal”) on an appeal under this Act is to be treated as if it were a decision under Article 13 or 14 of the 1998 Order.

In addition to any right of appeal on a point of law under Article 15 of the 1998 Order, a person who is found liable to a penalty by a Northern Ireland tribunal has a right of appeal to the Northern Ireland Social Security Commissioner, and on such an appeal the Commissioner has a similar jurisdiction to that conferred on the tribunal by subsection (3).

In subsection (6), “Northern Ireland Social Security Commissioner” means—

The Commissioners must make arrangements for an independent review of—

The Commissioners must consult the Treasury before making the arrangements for the review.

The Commissioners must provide the results and conclusions of the review to the Treasury.

The Treasury must set out the results and conclusions in a report and lay the report before Parliament.

The report must be laid before Parliament within the seven years beginning with the coming into force of section 6.

Any power to make an order or regulations under this Act is exercisable by the Treasury by statutory instrument.

An order or regulations under this Act may —

An order under section 3(7) may not be made unless a draft of the statutory instrument containing the order has been laid before, and approved by a resolution of, each House of Parliament.

Regulations under section 3(1)(b) or (5), 4(2)(a) or (4), 6(5) or 8(1) may not be made unless a draft of the statutory instrument containing the regulations has been laid before, and approved by a resolution of, each House of Parliament.

The first regulations under section 14 may not be made unless a draft of the statutory instrument containing the regulations has been laid before, and approved by a resolution of, the House of Commons.

The second, or any subsequent, statutory instrument containing regulations under section 14 is subject to annulment in pursuance of a resolution of the House of Commons.

The first regulations made in the exercise of any other power under this Act may not be made unless a draft of the statutory instrument containing the regulations has been laid before, and approved by a resolution of, each House of Parliament.

A statutory instrument containing only an order under section 24(6) or regulations under this Act other than regulations to which subsection (4), (5), (6) or (7) applies is subject to annulment in pursuance of a resolution of either House of Parliament.