From 1 January 2018, new disclosure requirements apply to anyone who promotes or participates in arrangements designed to provide VAT or other indirect tax savings or deferrals. The rules require affected parties to report such schemes to HMRC under the mandatory disclosure regime. These obligations apply to both promoters of tax arrangements and those who implement them. The guidance clarifies the reporting procedures and timelines that businesses and tax professionals must follow when dealing with these types of arrangements.
Source: HMRC (GOV.UK) – Read the original