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HMRC issues new DOTAS guidance

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2nd Nov 2012
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HMRC has published new guidance on Disclosure of Tax Avoidance Schemes (DOTAS). It includes changes to disclosure requirements for Stamp Duty Land Tax, which came into force on 1 November.

The 113-page guidance contains information on what to do if you promote or use arrangements, including any scheme, transaction or series of transactions, that will or are intended to provide the taxpayer with a “tax and/or NIC advantage when compared to adopting a different course of action".

Advice includes topics such as: 

  • Deciding IT arrangements on income tax, corporation tax, capital gains tax, NICs, SDLT and inheritance tax should be disclosed to HMRC
  • How to make a disclosure
  • The systems HMRC expects  tax arrangements users to have in place to monitor for arrangements that they, rather than the promoter, may need to disclose to HMRC
  • Details on how to notify HMRC when using a disclosed arrangement

Anne Fairpo, a tax barrister at Atlas Chambers, said in her 29 October AccountingWEB podcast that DOTAS guidance on HMRC website is "worth a look" for those who deal with tax schemes. 

According to Fairpo: "Grandfathering for sub-sale relief wont apply from 1 November and some schemes will need to be re-registered from that date as well. The guidance is published on the HMRC website, so if this is something you deal with, it's worth having a quick look."

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