Draft UK rules would require taxpayers and advisors to report cross-border arrangements

The UK government on July 22 released draft rules requiring disclosure to HM Revenue and Customs of certain offshore arrangements and structures that could be used to avoid or evade tax.

The draft rules implement EU Directive 2018/822, known as DAC 6.  Leaving the EU will not reduce the UK’s resolve to tackle international tax avoidance and evasion, the government states.

Comments are requested on the technical application of the rules as well as the policy questions addressed in the document.

The consultation runs through October 11.