Disclosure of tax avoidance schemes for VAT and other indirect taxes (DASVOIT) ― introduction

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides an overview of the rules that were effective from 1 January 2018 that require a person to officially disclose the use of certain VAT or other indirect tax avoidance schemes.

This guidance note should be read in conjunction with the DASVOIT ― notifiable arrangements and making the notification, DASVOIT ― the hallmarks and DASVOIT ― penalties and powers guidance notes.

Background

The revised reporting rules affect persons who promote or use arrangements from 1 January 2018 that are intended to, or will provide, the user with a VAT or other indirect tax advantage that would not have been obtained had another course of action been taken.

Terminology

Term	Meaning allocated by HMRC in respect of DASVOIT
Arrangements	Includes any scheme, transaction or series of transactions
Tax advantage for VAT	A person (P) obtains a tax advantage for VAT if: (a) in any prescribed accounting period, the amount by which the output tax accounted for by P exceeds the input tax deducted

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Popular Articles

Corporation Tax

Taxation of loan relationships

Taxation of loan relationshipsThe vast majority of companies will have loan relationships and so will need to consider how they are taxed under the loan relationship rules. There are also specific provisions dealing with relevant non-lending relationships and other deemed loan relationships.

14 Jul 2020 13:48 | Produced by Tolley Read more

Employment Tax

Subsistence expenses

Subsistence expensesIntroductionSubsistence is the amount incurred as a consequence of business travel. Typically it relates to accommodation and meal costs incurred. These amounts are allowed because they are associated with the necessary travel which is not to a permanent workplace. See the Travel

14 Jul 2020 13:43 | Produced by Tolley in association with Philip Rutherford Read more

Trusts and Inheritance Tax

Corrections and amendments to the IHT account

Corrections and amendments to the IHT accountThis guidance note explains how to deal with changes to the taxable values in the original inheritance tax account.Why do amendments arise?When the IHT account is first submitted to HMRC, it is based on information available at an early stage of the

14 Jul 2020 11:20 | Produced by Tolley Read more

��˾��ҹ��