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DASVOIT ― penalties and powers

Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance

DASVOIT ― penalties and powers

Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
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This guidance note provides an overview of the penalties that can be imposed on a person who fails to comply with the reporting requirements in respect of a notifiable arrangement or proposal.

This note should be read in conjunction with the Disclosure of tax avoidance schemes for VAT and other indirect taxes (DASVOIT) ― introduction, DASVOIT ― notifiable arrangements and making the notification and DASVOIT ― the hallmarks guidance notes.

Detailed commentary can be found in De Voil Indirect Tax Service V5.212A and V5.213A.

Information powers

Legislation has been introduced that includes powers that enable HMRC to:

  1. •

    require a promoter to provide information about a party to the arrangements who is not a client

  2. •

    enquire into the reasons why a promoter or an introducer has not disclosed a proposal or arrangements and require further information and documents in support of that claim

  3. •

    require an introducer (a person who introduces clients to a promoter) to identify the person who provided the information relating to the proposed arrangements and anyone with whom a

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  • 14 Sep 2022 10:04

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