Consultation outcome

Tax avoidance involving profit fragmentation

• From: HM Revenue & Customs
• Published: 10 April 2018
• Last updated: 6 July 2018 — See all updates

This consultation has concluded

Download the full outcome

Tax Avoidance involving Profit Fragmentation - summary of responses

PDF, 286 KB, 16 pages

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Detail of outcome

We received 16 responses, mainly from professional bodies and advisors, and would like to thank everyone who contributed.

You can read the draft legislation, and the supporting explanatory note and tax information and impact note.

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Original consultation

Summary

HMRC is inviting views on proposals to tackle avoidance schemes where profits of trades or professions are moved outside the UK tax charge.

This consultation ran from
9:30am on 10 April 2018 to 11:45pm on 8 June 2018

Consultation description

We are inviting views on proposals to tackle tax avoidance schemes designed to move UK profits outside the charge of UK tax, often using offshore trusts and companies.

The new legislation, which we intend to take effect in April 2019, would bring these profits within the UK tax charge and require notification of the arrangements to HMRC and earlier payment of tax.

We would welcome your comments on the proposals, to assist in the design of the legislation.

Documents

Tax Avoidance involving Profit Fragmentation - consultation document

PDF, 580 KB, 29 pages

This file may not be suitable for users of assistive technology.

Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 10 April 2018
Last updated 6 July 2018 + show all updates

1. 6 July 2018

   Added summary of responses and link to draft legislation.

2. 10 April 2018

   First published.