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Delay in publication of draft high-risk promoters rules welcomed

printer Mail

The CIOT announced its support for the delay by HMRC in publishing the draft legislation to implement proposals to designate high-risk promoters and to allow HMRC to follow up tribunal or court decisions in HMRC’s favour in avoidance cases. The CIOT believes that these are ‘too important’ measures to rush, and that ‘they need to be right first time’. This follows the announcement by HMRC that the draft legislation for Finance Bill 2014 for these two areas will be published in January, rather than this week.