Finance Act 2021 (c. 26)

SCHEDULES

SCHEDULE 31 Disclosure of tax avoidance schemes

PART 2 Amendments of Schedule 17 to F(No.2)A 2017

20 Before Part 1 insert—

“PART A1 Introduction

A1 (1) This Schedule makes provision about the disclosure of information in relation to arrangements, or proposed arrangements, that enable, or might be expected to enable, a person to obtain a tax advantage in relation to VAT or another indirect tax.

(2) Among other things, this Schedule—

(a) imposes duties to provide information to HMRC (and others);

(b) allows HMRC to allocate reference numbers in relation to arrangements and proposed arrangements (in cases where the disclosure duties have been complied with and in other cases);

(c) makes provision about publication of information about arrangements and proposed arrangements, and persons involved in their supply;

(d) makes provision about penalties.”