Tackling Offshore Tax Evasion
A consultation document, Tackling Offshore Tax Evasion: requirement to notify HMRC of offshore structures, has been published setting out a proposal to require businesses that create complex offshore arrangements to notify HMRC of the details and provide a list of clients using them. See here.
The measure targets structures that could be used to evade tax. Businesses would be provided with a notification number to send their clients who would be expected to include it on their self-assessment tax return or personal tax account.
Responses are invited by 27 February 2017.
