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The consultation identifies avoidance arrangements described as typically undertaken by individuals and smaller entities.
HMRC considers that such arrangements would be caught by existing legislation, but this is cumbersome in practice and therefore there is a need for targeted legislation. It is proposed that the onus for notification of such schemes would be on those who enter in to these arrangements.
In order to remove cash flow advantages from such schemes, HMRC has also proposed that it should have the power to issue charging notices for tax which must be paid within a fixed period, for example 30 days.
The new legislation is intended to take effect in April 2019. The consultation is open till 8 June 2018.