Promoters of tax avoidance schemes
Promoters of tax avoidance schemes

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

  • Promoters of tax avoidance schemes
  • Meaning of promoter
  • Intermediaries
  • Threshold conditions
  • Associated and successor entities
  • Promoters of multiple defeated schemes
  • Conduct notices
  • Monitored promoters

Promoters of tax avoidance schemes

FORTHCOMING CHANGE relating to Finance Bill 2021: Finance Bill 2021 contains a number of measures, taking effect from Royal Assent, to strengthen the POTAS rules. These include allowing HMRC to issue stop notices earlier and in a wider range of circumstances, widening the rules to include individuals who control, or significantly influence, promoter entities, and lengthening the maximum period for which a conduct notice can remain in place. Draft technical guidance was published on 23 March 2021. For more information on the Finance Bill provisions, see News Analysis: Spring Budget 2021—Tax analysis—Tackling promoters of tax avoidance, and for information on the draft clauses that were published in July 2020, see News Analysis: Draft Finance Bill 2020–21—promoters and enablers of tax avoidance schemes.

FORTHCOMING CHANGE relating to Finance Bill 2021–22: The government intends to introduce further measures to counter promoters of tax avoidance schemes in the Finance Bill 2021–22 (which is expected to be enacted as the Finance Act 2022). The measures include a new power for HMRC to freeze a promoter’s assets, penalties for UK entities that support offshore promoters, and another new power for HMRC to apply to wind up companies that promote tax avoidance and to disqualify the directors. For more information, see News Analysis: Tax consultation day—23 March 2021—Clamping down on promoters of tax avoidance.

Finance Act 2014 contains

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