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Guidance on new promoters rules

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HMRC has issued new guidance Publication by HMRC of information about tax avoidance schemes: section 86 Part 6 Finance Act 2022 explaining how the further measures to tackle promoters in FA 2022 s 86 will be applied in practice.

With effect from 24 February 2022, HMRC can publish details of suspected tax avoidance schemes and any person suspected of making the scheme available to taxpayers. HMRC can publish any information that the authorised HMRC officer considers appropriate for the purpose of informing taxpayers of the risks associated with the scheme or protecting the public revenue. The aim of the provision is to better inform taxpayers of the risks of relevant schemes, so that they can identify and steer clear of the schemes or exit them.

The new power widens the pool of persons whose identity can be published in connection with the suspected tax avoidance scheme.

Issue: 1567
Categories: News