Tax promoters exemptions

HMRC clarifies definition of high risk promoter say Harris & Co accountants Northampton #accountantsnorthampton

HMRC has published draft regulations designed to clarify the rules for its new High Risk Promoter (HRP) scheme to tackle promoters of aggressive tax avoidance schemes, amid concerns that the original legislation has been too widely drawn
HMRC says it wants to exclude two types of person from its definition of ‘promoter’ for the purposes of taking action under the HRP scheme.

The first exclusion covers an adviser, such as an accountant or lawyer, who provides advice on a discrete point of law or accountancy but is not involved in the overall design of the tax avoidance scheme.

The second exclusion relates to a company that provides in-house taxation services to companies in the same group and is not in any sense marketing tax avoidance schemes to the public