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Are you ready?
Key points
- DAC6 is one of the main EU tools for the exchange of information between member states.
- The directive is enshrined in UK primary and secondary legislation.
- Understanding what reportable cross-border arrangements are.
- Deadlines for reporting were extended because of the pandemic.
- Reportable arrangements have to contain a defined hallmark.
- Interaction of DAC6 with the disclosure of tax avoidance schemes regime.
On 25 June 2020 the government announced a deferment of the introduction of the DAC6 (EU Directive 2018/822) rules as a result of the widespread disruption brought on by Covid-19.
This extension is welcome news because over recent months the lack of awareness of DAC6 or at least a lack of preparation for its implementation has become apparent to advisers. This lack of preparation is in part linked to the impact of Covid-19; however part of the answer also lies in...
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