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On 2 March 2022 HMRC published its guidance on Finance Act 2022 s 86 – the power which allows it to publish information about tax avoidance schemes (tinyurl.com/hmrcguidancefa22s86).
HMRC states this legislation is intended to allow them to challenge misleading information provided by promoters of avoidance and to tackle avoidance much earlier than it was previously able to – the intended purpose being to inform taxpayers of the risks of schemes so they can avoid or exit them.
Examples of the information published and circumstances where HMRC may publish information are:
- details of avoidance schemes where HMRC have a suspicion that a scheme is being sold through a website or other channel;
- whether HMRC believe that the scheme is disclosable under the disclosure of tax avoidance schemes (DOTAS) and any actions HMRC is taking under DOTAS;
- confirmation that similar schemes have been found not to...
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