Draft UK regulations released on October 3 under the Promoters of Tax Avoidance legislation in Finance Act 2014 exclude from the definition of “promoter” the following:
- 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, and
- an adviser (such as a lawyer or accountant) who provides advice on a discrete point of law or accountancy but is not involved in the overall design of the tax avoidance scheme
Comments on the draft regs are due October 31.
See, Draft legislation: Promoters of Tax Avoidance Schemes regulations,UK release
