On 30 March 2015, HMRC published revised draft guidance on the diverted profits tax (DPT).

The new draft guidance has been significantly added to. In particular, it now includes examples showing how HMRC expect the DPT to apply oil and gas companies, property development companies, insurance companies and banking groups.

The guidance also confirms that, although no formal statutory or non-statutory clearance procedure will be available for the DPT, taxpayers may seek a written opinion from HMRC on the likelihood of a DPT notice being issued.

The revised HMRC guidance can be viewed here