The Regulations are made further to the provisions contained in Schedule 17 (“the Schedule”) to the Finance (No. 2) Act 2017 (c. 32). The Schedule makes provision in respect of the disclosure of avoidance schemes, being schemes which enable a person to obtain a tax advantage (defined in paragraphs 6 and 7 of the Schedule), concerning VAT and other indirect taxes (a list of indirect taxes to which the Schedule applies is set out at paragraph 2(1) of the Schedule). Regulations may be made under the Schedule to prescribe notifiable arrangements. Information in relation to such arrangements must be notified to HMRC. The Indirect Taxes (Disclosure of Avoidance Schemes) Regulations 2017 provide for the information to be notified.
Link: The Indirect Taxes (Notifiable Arrangements) Regulations 2017
Source: Legislation .gov.uk
