On 28 July 2022, the UK tax authority (Her Majesty's Revenue & Customs (HMRC)) published a factsheet providing guidance on the penalties UK-based intermediaries may face for facilitating avoidance schemes involving non-resident promoters. The relevant legislation is Schedule 13 to the Finance Act 2022.
This factsheet provides guidance on:
- non-resident promoters;
- when a penalty may be charged for facilitating an avoidance scheme involving a non-resident promoter;
- the penalty that may be charged;
- the rights under article 6 of the European Convention on Human Rights, when someone is charged with a penalty; and
- the right to appeal if someone disagrees with the decision to charge a penalty.