In Smartpay Ltd v HMRC [2022] UKFTT 146 (TC) (3 May) the FTT found that arrangements involving a contractor loan scheme were notifiable arrangements for the purposes of the DOTAS rules and therefore made the order sought by HMRC. The arrangements here were a variant of a contractor loan scheme. The FTT had little difficulty in determining that the arrangements themselves were notifiable but spent more time on the question of whether or not either of the two companies involved were promoters. The split of activities between the two companies and the fact that one acted as undisclosed agent for the other did not ultimately affect the position: both companies were promoters. What is interesting however is the discussion on the position of offshore promoters. The judge drew a distinction between the fact that an offshore entity is a promoter for the purpose of determining...
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