From the govt response to the LC review:
DOTAS schemes used through Ltd structures had to be fully declared - however, not on an individuals SA. Does this or does this not then count as "reasonable disclosure"?
Unprotected Years arising from loans entered into on or after 9th December
2010, where the relevant taxpayer made reasonable disclosure of their scheme
usage to HMRC and HMRC did not open an investigation, should be out of scope of
the Loan Charge (subject to recommendation 5 below). Other Unprotected Years
should remain in scope of the Loan Charge. This will ensure that taxpayers do not
benefit from failing to disclose their tax affairs to HMRC. The approach to defining
“reasonable disclosure” should build upon HMRC’s ordinary compliance approach in
considering the extent to which a Se
2010, where the relevant taxpayer made reasonable disclosure of their scheme
usage to HMRC and HMRC did not open an investigation, should be out of scope of
the Loan Charge (subject to recommendation 5 below). Other Unprotected Years
should remain in scope of the Loan Charge. This will ensure that taxpayers do not
benefit from failing to disclose their tax affairs to HMRC. The approach to defining
“reasonable disclosure” should build upon HMRC’s ordinary compliance approach in
considering the extent to which a Se
Comment