DASVOIT ― the hallmarks

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides details of the hallmarks for VAT and indirect tax arrangements where it is necessary for the promoter or the user to notify HMRC under the DASVOIT regulations. This note should be read in conjunction with the Disclosure of tax avoidance schemes for VAT and other indirect taxes (DASVOIT) ― introduction, DASVOIT ― notifiable arrangements and making the notification and DASVOIT ― penalties and powers guidance notes.

Background

The relevant anti-avoidance legislation specifies a number of descriptions of arrangements that HMRC refers to as hallmarks. Hallmarks 1(a), 1(b), 2, 3 and 4 apply across all the indirect taxes including VAT and hallmarks 5, 6, 7 and 8 apply only to VAT.

HMRC states in its guidance that the hallmarks are not mutually exclusive and that an arrangement can be hallmarked by virtue of satisfying one or more of the hallmarks outlined below. HMRC also goes on to state that the absence of a hallmark for a particular arrangement cannot be viewed as constituting practices that will be acceptable to HMRC. HMRC will

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Corporation Tax

Substantial shareholding exemption ― overview

Substantial shareholding exemption ― overviewThe substantial shareholdings exemption (SSE) provides a complete exemption from the liability to corporation tax on the gains generated from qualifying disposals of shares and interests in shares by qualifying companies. No claim is required. Provided

14 Jul 2020 13:44 | Produced by Tolley Read more

Exemption ― insurance ― overview

Exemption ― insurance ― overviewThis guidance note provides an overview of the VAT treatment of insurance products and should be read in conjunction with the Insurance ― specific transactions and Exemption ― insurance ― brokers and agents guidance notes.Is insurance exempt from VAT?Supplies of

Owner-Managed Businesses

Furnished holiday lets

Furnished holiday letsThis guidance note sets out the qualifying conditions for a property let to be treated as a furnished holiday let (FHL) for tax purposes and the subsequent tax implications.Whether or not a property qualifies as an FHL can make an important difference to the taxation

14 Jul 2020 11:46 | Produced by Tolley Read more

UU��ֱ��