Taxation (International and Other Provisions) Act 2010 section Schedule 9 paragraph 29

Advance pricing agreements

Schedule 9 paragraph 29 sets out transitional rules for advance pricing agreements, establishing the earliest date from which such agreements can be valid and how older agreements are treated under the current legislation.

• No agreement made before 27 July 1999 can qualify as an advance pricing agreement under Part 5 of the Act.
• Agreements made between 27 July 1999 and 31 March 2010 are recognised if they contained the required declaration under the predecessor legislation (section 85 of the Finance Act 1999).
• From 1 April 2010 onwards, agreements must contain a declaration that they are made for the purposes of section 218 of the 2010 Act.
• These transitional provisions ensure continuity so that valid advance pricing agreements made under the old rules are not invalidated by the introduction of the 2010 Act.