940. Disclosure of VAT avoidance schemes in general.

Certain arrangements concerning VAT (and other indirect taxes) must be disclosed to HMRC1. Very generally, 'notifiable arrangements' are any arrangements which:

  1.  

    (1)     enable, or might be expected to enable, any person to obtain a tax advantage in relation to VAT;

  2.  

    (2)     are such that the main benefit, or one of the main benefits, that might be expected to arise from the arrangements is the obtaining of that tax advantage; and