01 March 2010
Extension of tax avoidance disclosure regime
Regulations and guidance relating to the extension of the tax avoidance disclosure regime to certain stamp duty land tax concerning residential property with a value of at least £1 million have been published by HMRC.
The new rules come into effect on 1 April.
The Stamp Duty Land Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) (Amendment) Regulations 2010 (SI 2010/409) cover what schemes must be disclosed.
The Avoidance Schemes (Information) (Amendment) Regulations 2010 (SI 2010/410) prescribe the information that must be provided and the timescale within which that information is to be given to HMRC.
