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HMRC consultation on implementation of disclosable arrangements – Law Society response

9 October 2019

The proposals

EU Directive 2018/822 (DAC6) introduces new disclosure and reporting rules for intermediaries involved in designing and promoting certain cross-border arrangements satisfying hallmarks linked to tax or tax reporting.

From 1 July 2020, DAC 6 will require taxpayers and their advisers to report details of such arrangements that fall within the scope of the rules to HMRC.

The government consultation relates to draft regulations and related matters that implement DAC 6 in the UK.

Our view

Our response urges the government to take a proportionate approach to transposing the directive into UK law in an expanded and self-contained set of regulations.

We provide detailed comments on issues that should be addressed by the regulations to achieve that.

Additionally, we set out important points that we consider need to be addressed by government in order to ensure that legal professional privilege, which is a fundamental right, is properly respected and protected.

What this means for solicitors

The implementation of DAC6 in the UK will have important reporting and compliance consequences for solicitors who advise on cross border arrangements.

Next steps

The consultation closes on 11 October.

It will inform the final form of the regulations, as well as the guidance which we expect to be published in draft form late in 2019.

Read the consultation on the GOV.UK website