HMRC has published two sets of draft guidance on the disclosure of tax avoidance schemes (DOTAS) regime for information and comment.
HMRC has published two sets of draft guidance on the disclosure of tax avoidance schemes (DOTAS) regime for information and comment. The first set of draft guidance, titled DOTAS: Employment income hallmark: draft guidance, concerns the new employment income hallmark, which will come into force in early November 2013. The guidance explains that The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Amendment Regulations 2013 will be laid shortly. These measures were previously published in draft in July and, among other things, they insert a new hallmark related to employment income provided through third parties, to state that the ‘main benefit’ condition 2 is met if the ‘main benefit or one of the main benefits of the arrangement was to avoid the employment income charge’ (amending The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations, SI 2006/1543, reg 18).
The second set of draft guidance is titled DOTAS: Finance Act 2013 prescribed information amendments: draft guidance. This guidance explains that The Tax Avoidance Schemes (Information) Amendment Regulations 2013 will be laid shortly. Among other things, they enact the FA 2013 changes to the prescribed information for clients. These regulations were published in draft in December 2012, but have since been amended to provide an extended time limit (60 days) for the provision by the promoter to HMRC of the client’s NI number and unique taxpayer reference (or confirmation that the client has neither), where the time limit for the client to provide the information to the promoter has not yet expired. The information amendment regulations will also come into force in early November 2013.
HMRC is inviting comments on both sets of draft guidance by 21 October 2013. Those wishing to submit views should respond by email.
HMRC has published two sets of draft guidance on the disclosure of tax avoidance schemes (DOTAS) regime for information and comment.
HMRC has published two sets of draft guidance on the disclosure of tax avoidance schemes (DOTAS) regime for information and comment. The first set of draft guidance, titled DOTAS: Employment income hallmark: draft guidance, concerns the new employment income hallmark, which will come into force in early November 2013. The guidance explains that The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Amendment Regulations 2013 will be laid shortly. These measures were previously published in draft in July and, among other things, they insert a new hallmark related to employment income provided through third parties, to state that the ‘main benefit’ condition 2 is met if the ‘main benefit or one of the main benefits of the arrangement was to avoid the employment income charge’ (amending The Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations, SI 2006/1543, reg 18).
The second set of draft guidance is titled DOTAS: Finance Act 2013 prescribed information amendments: draft guidance. This guidance explains that The Tax Avoidance Schemes (Information) Amendment Regulations 2013 will be laid shortly. Among other things, they enact the FA 2013 changes to the prescribed information for clients. These regulations were published in draft in December 2012, but have since been amended to provide an extended time limit (60 days) for the provision by the promoter to HMRC of the client’s NI number and unique taxpayer reference (or confirmation that the client has neither), where the time limit for the client to provide the information to the promoter has not yet expired. The information amendment regulations will also come into force in early November 2013.
HMRC is inviting comments on both sets of draft guidance by 21 October 2013. Those wishing to submit views should respond by email.
