Disclosure of tax avoidance schemes—IHT
Disclosure of tax avoidance schemes—IHT

The following Private Client practice note provides comprehensive and up to date legal information covering:

  • Disclosure of tax avoidance schemes—IHT
  • Function of the DOTAS rules
  • Source and scope of DOTAS rules for IHT
  • What creates a requirement to disclose?
  • Meaning of tax advantage
  • Meaning of main benefit
  • Who is a promoter?
  • Hallmarks
  • Confidentiality hallmark
  • Premium fee hallmark
  • More...

Disclosure of tax avoidance schemes—IHT

FORTHCOMING CHANGE: Finance Bill 2021, published on 11 March 2021, contains a number of measures, taking effect from Royal Assent, to take further action against those who promote and market tax avoidance schemes. These include strengthening information powers for HMRC’s existing regime to tackle enablers of tax avoidance schemes,  enabling HMRC to act promptly where promoters fail to disclose their avoidance schemes, allowing HMRC to stop promoters from marketing and selling avoidance schemes earlier, making further technical amendments to the POTAS regime and making additional changes to the General Anti-Abuse Rule (GAAR). On 23 March 2021, the government published draft guidance to be read alongside the legislation. For more information, see News Analysis: Spring Budget 2021—Private Client analysis — Tackling promoters of tax avoidance and for more information on the draft clauses that were published in July 2020, see News Analysis: Draft Finance Bill 2020–21—Private Client analysis — Promoters and enablers of tax avoidance schemes. See also: Tax—Finance Bill 2021 tracker.

STOP PRESS: On 23 March 2021, the government published a consultation on clamping down on promoters of tax avoidance, which sets out a package of additional measures that could be used to further restrict the activities of promoters and enablers of tax avoidance schemes. For more information, see News Analysis: Tax consultation day—23 March 2021—Private Client analysis — Clamping down

Related documents:

Popular documents