The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of the penalties that can be imposed on a person who fails to comply with the reporting requirements in respect of a notifiable arrangement or proposal.
This note should be read in conjunction with the Disclosure of tax avoidance schemes for VAT and other indirect taxes (DASVOIT) ― introduction, DASVOIT ― notifiable arrangements and making the notification and DASVOIT ― the hallmarks guidance notes.
Legislation has been introduced that includes powers that enable HMRC to:
Finance (No 2) Act 2017, Sch 17, paras 28–34
The purpose of these provisions is to enable HMRC to identify notifiable arrangements / proposals that have not been disclosed and to identify the users of such arrangements.
HMRC can also enforce disclosure by submitting an application to tribunal for an order to the effect that proposals or arrangements are notifiable or are treated as being notifiable under DASVOIT.
If HMRC suspects that a notifiable proposal / arrangement has not been disclosed, it can send a written notice to a person that requires that person to provide an explanation regarding why he considers the arrangement
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