Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Why extend the assessing time limit for failure to disclose a notifiable avoidance scheme?

April 26, 2017assessing avoidance disclose EXTEND failure limit notifiable Scheme time

0

Posted

Why extend the assessing time limit for failure to disclose a notifiable avoidance scheme?

1 Answer

0

Posted

Where a taxpayer uses certain schemes, there is an obligation to disclose this to HMRC. If the taxpayer does not disclose the scheme, HMRC needs more time to find these hidden schemes, to investigate their use to see whether tax has been unlawfully underpaid, and quantify any tax due.