HMRC is consulting on proposals to strengthen the regimes for disclosing information on tax avoidance schemes to HMRC:
· first, to update the VAT disclosure regime (VADR) and to bring other indirect taxes within its scope; and
· second, to revise the hallmark for inheritance tax (IHT) in the disclosure of avoidance schemes (DOTAS) regime.
This consultation takes forward both elements of an earlier 2014 consultation, including draft revisions to the hallmark regulations covering IHT. It asks for views on the proposals to make sure the disclosure regimes provide reasonable and timely information to HMRC about the avoidance of these taxes and duties. The closing date for comments is 13 July 2016. See www.bit.ly/1Vj1zYc.
HMRC is consulting on proposals to strengthen the regimes for disclosing information on tax avoidance schemes to HMRC:
· first, to update the VAT disclosure regime (VADR) and to bring other indirect taxes within its scope; and
· second, to revise the hallmark for inheritance tax (IHT) in the disclosure of avoidance schemes (DOTAS) regime.
This consultation takes forward both elements of an earlier 2014 consultation, including draft revisions to the hallmark regulations covering IHT. It asks for views on the proposals to make sure the disclosure regimes provide reasonable and timely information to HMRC about the avoidance of these taxes and duties. The closing date for comments is 13 July 2016. See www.bit.ly/1Vj1zYc.
