In July 2016 Tax Journal published my article ‘The proposed changes to the DOTAS hallmark for IHT’ and the new rules that were proposed were introduced from 1 April 2018: see the Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations SI 2017/1172. As anticipated these replace the original 2011 hallmark and are significantly wider in scope and the grandfathering provisions that excepted from disclosure those arrangements made available before 6 April 2011 no longer apply.
There are three tests to determine whether a proposal or arrangement is notifiable under the disclosure of tax avoidance schemes (DOTAS) as an inheritance tax (IHT) scheme. Consideration has to be given as to whether:
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In July 2016 Tax Journal published my article ‘The proposed changes to the DOTAS hallmark for IHT’ and the new rules that were proposed were introduced from 1 April 2018: see the Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations SI 2017/1172. As anticipated these replace the original 2011 hallmark and are significantly wider in scope and the grandfathering provisions that excepted from disclosure those arrangements made available before 6 April 2011 no longer apply.
There are three tests to determine whether a proposal or arrangement is notifiable under the disclosure of tax avoidance schemes (DOTAS) as an inheritance tax (IHT) scheme. Consideration has to be given as to whether:
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: