Businesses are required to make a disclosure to HM Revenue & Customs when they derive a VAT benefit from certain VAT planning arrangements. The VAT avoidance disclosure rules came into force on 1 August 2004 and applied to schemes entered into before 1 January 2018. This practice note examines the key practical implications of that reporting regime.
The new indirect tax disclosure regime applies to schemes entered into on or after 1 January 2018, see Practice note, Indirect tax disclosure regime. However, the old VAT disclosure regime continues to apply to schemes entered into before that date.