HMRC has published regulations which ensure that members of a promotion structure cannot fall within the exemption from being treated as a promoter in relation to tax avoidance schemes.
The Promoters of Tax Avoidance Schemes (Prescribed Circumstances under Section 235) (Amendment) Regulations, SI 2021/1010, amend The Promoters of Tax Avoidance Schemes (Prescribed Circumstances under Section 235) Regulations, SI 2015/130, as a result of the introduction of the promotion structures provisions into FA 2014 Pt 5 by FA 2021 Sch 30.
The 2015 Regulations prescribe circumstances in which a person is not to be treated as a promoter in relation to tax avoidance schemes. The amending regulations insert a new paragraph 3(4) into the 2015 Regulations to prevent the exception from applying to members of a promotion structure. The regulations come into force on 30 September 2021.
HMRC has published regulations which ensure that members of a promotion structure cannot fall within the exemption from being treated as a promoter in relation to tax avoidance schemes.
The Promoters of Tax Avoidance Schemes (Prescribed Circumstances under Section 235) (Amendment) Regulations, SI 2021/1010, amend The Promoters of Tax Avoidance Schemes (Prescribed Circumstances under Section 235) Regulations, SI 2015/130, as a result of the introduction of the promotion structures provisions into FA 2014 Pt 5 by FA 2021 Sch 30.
The 2015 Regulations prescribe circumstances in which a person is not to be treated as a promoter in relation to tax avoidance schemes. The amending regulations insert a new paragraph 3(4) into the 2015 Regulations to prevent the exception from applying to members of a promotion structure. The regulations come into force on 30 September 2021.
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