Disclosure of Tax Avoidance Schemes – Budget update

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In 2011, we saw an HMRC consultation about extending the “hallmarks” (the descriptions of schemes required to be disclosed for income tax, capital gains tax or corporation tax). The Government have announced that they will be formally consulting over the summer on extending the hallmarks so as to capture avoidance schemes that do not currently have to be notified, with a view to publishing draft regulations later in the year.

Does this presage an extension of notification requirements to employer related schemes such a salary sacrifice arrangements for child care vouchers, pensions and cycle to work schemes?

Tags: 2012 budget, Disclosure of Tax Avoidance Scheme, tax avoidance, tax avoidance schemes

This entry was posted on Wednesday, March 21st, 2012 at 17:20 and is filed under Budget. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.