UK Publishes Draft Guidance on Penalties for Enablers of Tax Avoidance Schemes
On 20 October 2017, UK HMRC published draft guidance on new legislation for enablers of defeated tax avoidance schemes. The legislation essentially provides that a person is liable for a penalty when the abusive arrangements they have enabled are defeated (tax advantage counteracted by HMRC). For this purpose, a person who has enabled abusive tax arrangements is defined as a person who:
- Is a …