.png)
.png)
The annual tax on enveloped dwellings (ATED) has been brought within the disclosure of tax avoidance schemes (DOTAS) regime, the government has announced.
Schemes designed and marketed to avoid paying the ATED must be brought to the attention of HMRC, under the Annual Tax on Enveloped Dwellings Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2013 (SI 2013/2571) and the Tax Avoidance Schemes (Information) (Amendment, etc) Regulations 2013 (SI 2013/2592).
The annual tax on enveloped dwellings (ATED) has been brought within the disclosure of tax avoidance schemes (DOTAS) regime, the government has announced.
Schemes designed and marketed to avoid paying the ATED must be brought to the attention of HMRC, under the Annual Tax on Enveloped Dwellings Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations 2013 (SI 2013/2571) and the Tax Avoidance Schemes (Information) (Amendment, etc) Regulations 2013 (SI 2013/2592).
Promoters of avoidance schemes must provide the Revenue with details of their clients’ National Insurance numbers and unique taxpayer references.
Penalties can reach £1m for non-disclosure, while the fines for users failing to report the use of a scheme on a tax return are £100 for the first failure, £500 for the second, and £1,000 for each subsequent occurrence.
