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Detail of outcome
This document contains:
- a summary of responses to the consultation on the proposal to require intermediaries creating or promoting certain complex offshore financial arrangements to notify HMRC of these structures and their clients
- the government’s response to the issues raised in the consultation
The government is grateful to all those who responded or participated in meetings for taking the time to consider the issues raised by the consultation document.
This consultation aims to establish the high level design principles for a proposed legal requirement on businesses that create or promote certain complex offshore financial arrangements to notify HMRC of their creation, and provide a list of clients using them.
Clients in their turn would be expected to notify HMRC of their involvement via a notification number on their personal tax account.