The proposals include making the Disclosure of Tax Avoidance Schemes (DOTAS) rules an even stronger and more effective weapon in the battle against tax avoidance, for example by giving HMRC stronger powers to force promoters to tell them about avoidance schemes and who is using them, and tightening the rules so that it is easier to impose penalties for failure to provide information to HMRC about a scheme.
What does DOTAS stand for?
DOTAS stands for Disclosure of Tax Avoidance Schemes
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Samples in periodicals archive:
The Disclosure of Tax Avoidance Schemes regime already captures information on aggressive tax planning, so any further rules would duplicate the existing laws for no good reason.
New measures include more robust measures on offshore evasion, further consultation on disclosure of tax avoidance schemes, and additional powers to close down tax avoidance schemes, such solutions to issues of trusts being used to avoid IHT charges, and avoidance using index linked gilts.
Recently, new rules have been introduced concerning the disclosure of tax avoidance schemes.
But he added he was concerned about new US style rules on disclosure of tax avoidance schemes by accountants.