The government has made three sets of regulations to introduce the extended IHT hallmark, include apprenticeship levy within the DOTAS regime, and extend information requirements to NICs.
The Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations, SI 2017/1172, set out the extended IHT DOTAS hallmark, which will apply from 1 April 2018. Established IHT planning products made available and used before 1 April 2018, which HMRC has accepted as complying with established practice, will not have to be disclosed, even where they fall within the new hallmark. These final regulations follow consultation on previous drafts in July 2015 and April 2016, which highlighted concerns that the hallmark was drawn too widely. HMRC will publish guidance on the new hallmark before April 2018.
The Tax Avoidance Schemes (Miscellaneous Amendments) Regulations, SI 2017/1171, extend the DOTAS regime to include the apprenticeship levy with effect from 21 December 2017.
The National Insurance Contributions (Application of Part 7 of the Finance Act 2004) (Amendment) Regulations, SI 2017/1174, replicate for NICs the strengthened DOTAS information requirements introduced for tax purposes by Finance Act 2015. The changes apply with effect from 21 December 2017, except for employers having to report scheme reference numbers for their employees, which comes into effect from 6 April 2018, thus avoiding the need to submit details for only part of a NICs year. The first such report will be for 2018/19 and must be made by 19 April 2019.
The government has made three sets of regulations to introduce the extended IHT hallmark, include apprenticeship levy within the DOTAS regime, and extend information requirements to NICs.
The Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations, SI 2017/1172, set out the extended IHT DOTAS hallmark, which will apply from 1 April 2018. Established IHT planning products made available and used before 1 April 2018, which HMRC has accepted as complying with established practice, will not have to be disclosed, even where they fall within the new hallmark. These final regulations follow consultation on previous drafts in July 2015 and April 2016, which highlighted concerns that the hallmark was drawn too widely. HMRC will publish guidance on the new hallmark before April 2018.
The Tax Avoidance Schemes (Miscellaneous Amendments) Regulations, SI 2017/1171, extend the DOTAS regime to include the apprenticeship levy with effect from 21 December 2017.
The National Insurance Contributions (Application of Part 7 of the Finance Act 2004) (Amendment) Regulations, SI 2017/1174, replicate for NICs the strengthened DOTAS information requirements introduced for tax purposes by Finance Act 2015. The changes apply with effect from 21 December 2017, except for employers having to report scheme reference numbers for their employees, which comes into effect from 6 April 2018, thus avoiding the need to submit details for only part of a NICs year. The first such report will be for 2018/19 and must be made by 19 April 2019.
