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New form for disclosure of avoidance

31 October 2008
Categories: News , Admin
AAG6 must be used to pass on SRNs

HMRC's anti-avoidance group (AAG) has added to the package of upgrades to its system for identifying users of disclosed avoidance schemes.

The department has introduced form AAG6, which is for scheme promoters to pass the eight-digit scheme reference number (SRN) to clients.

It is also to be used where clients are required by s312A FA 2004 to pass the SRN to other parties who might reasonably be expected to obtain a tax advantage from the scheme.

Form AAG6 must be used to pass on SRNs from tomorrow (1 November), when changes made in Finance Act 2008 to anti-avoidance provisions come into effect.

Earlier this year, an National Audit Office report praised the Revenue for having successfully stepped up the manner in which it tackles tax avoidance, but the paper also highlighted several areas in which improvements could be made.

Categories: News , Admin
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