Readers will be familiar with the new Promoters of Tax Avoidance Schemes regime, which appears in Part 5 of the Finance Act 2014 (POTAS). On 5 March 2015, new regulations were made which, amongst other things, prescribed the information that monitored promoters must provide to HMRC. There are some changes from the draft regulations, particularly in that the promoter must now supply to HMRC the date on which a person became a client for any reason, regardless of whether the promoter actively engaged with the person. The regulations came into force on 27 March 2015.
To read the regulations click here.