Following previous announcements in the Budget 2014 and in the Autumn Statement 2016, the Government’s intention was to introduce legislation in Finance Bill 2017 to strengthen the regime for the Disclosure of Indirect Tax Avoidance.
In the Spring Budget 2017, the Government announced that scheme promoters will be primarily responsible for disclosing schemes to HMRC.
The new legislation will include all indirect taxes, including the Soft Drinks Industry Levy.
Details of the tests to apply to arrangements will be contained in regulations.
These measures will come into effect on 1 September 2017.
The parties affected will be those who promote schemes involving indirect taxes which are categorised as tax avoidance. We await further details.