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HMRC Issues Guidance On Indirect Tax Avoidance Disclosure Regime

by Jason Gorringe, Tax-News.com, London

26 December 2017


HM Revenue and Customs (HMRC), the UK's tax authority, has released new guidance on the disclosure of tax avoidance schemes for value-added tax and other indirect taxes.

From January 1, 2018, new rules are being introduced on the disclosure of avoidance schemes covering value-added tax and other indirect taxes, which will replace the existing avoidance disclosure rules exclusively covering VAT so that these apply to all indirect taxes.

Under the changes, businesses that promote avoidance schemes will need to disclose the indirect tax schemes they devise and sell.

Notice 799 explains the rules that apply to those who promote or use an arrangement intended to provide a VAT or other indirect tax saving or deferral from January 1, 2018. The Notice discusses what must be disclosed to HMRC; who should disclose notifiable proposals or arrangements; the regime's coverage; and obligations on promoters or users.

TAGS: tax | business | value added tax (VAT) | tax avoidance | United Kingdom | tax authority | HM Revenue and Customs (HMRC) | HM Revenue and Customs (HMRC)

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