Ten things about disclosing a tax avoidance scheme

16 November 2015

If you’re a promoter, an intermediary such as a tax agent, an independent financial advisor, or a user of a tax avoidance scheme, you need to be aware of your responsibilities to disclose a tax avoidance scheme.

HMRC has published guidance which covers these ten points:

1. Most tax avoidance schemes have to be disclosed to HMRC
2. HMRC is tightening the rules on disclosure
3. You must disclose a tax avoidance scheme
4. HMRC is hunting down hidden tax avoidance schemes
5. HMRC is getting smarter at uncovering tax avoidance schemes
6. You could face a penalty if you don’t disclose
7. You need to check if the scheme should be disclosed
8. New sanctions and penalties for promoters who fail to disclose
9. HMRC’s litigation success means that you should get out of avoidance
10. HMRC have set up a hotline so you can report tax avoidance