U.K Publishes Guidance on Promoters of Tax Avoidance Schemes and Introduces New Regulations on When a Company is Not to be treated as a Promoter

The U.K HMRC has published guidance on the rules aimed and deterring promoters of tax avoidance schemes, which are included in Part 5 of the Finance Act 2014. The guidance's covers:

• The definitions of promoters, intermediaries, clients and avoidance arrangements
• Threshold conditions for HMRC actions
• Information disclosure requirements and other obligations that may be imposed on promoters, intermediaries and clients
• Information powers of HMRC and restrictions
• Maximum penalties for compliance…