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Avoidance: spotlights

HMRC has revised the guidance on its Spotlights page to make it clear that schemes disclosed under the DOTAS regulations are not HMRC approved.

The existing guidance explains that the ‘spotlighted schemes’ are generally those which HMRC considers have the widest implications and about which there is the greatest need to warn potential users.

The additional wording reads: ‘They will often be schemes that have been disclosed to HMRC and have been given a Scheme Reference Number (SRN).

'Please note that the issue of a SRN does not mean either that HMRC "approves" the scheme or that HMRC accepts that the scheme achieves its intended tax advantage.’

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