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Mandatory disclosure rules and DAC 6 — articles

Features and articles on tax disclosure around the world, including the UK's Mandatory Disclosure Rules and DAC 6.
Displaying 1-14 of 14 results
FACULTIES ONLINE TAX FACULTY TAX NEWS EU Council reaches agreement on exchange of information for crypto assets and advance tax rulings for high-net-worth individuals
  • May 2023
  • ICAEW
The unanimous agreement paves the way for greater co-operation between member states to reduce opportunities for tax avoidance and tax fraud using crypto assets, by amending the directive on administrative co-operation in the area of taxation (DAC).
Tax news in brief 19 April 2023
  • Apr 2023
Highlights from the broader tax news for the week ending 19 April 2023, including: closure of online VAT return; PAYE direct debits; TRS reporting requirements; interest rate increase for discounted gift trusts; NMW campaign; Finance Bill amendment for R&D; closure of the DAC6 reporting service; and Tax Administration and Maintenance Day.
Tax news in brief 8 February 2023
  • Feb 2023
Highlights from the broader tax news for the week ending 8 February 2023
FACULTIES ONLINE TAX FACULTY TAX NEWS Mandatory disclosure rules replace DAC 6 in the UK
  • Jan 2023
  • ICAEW
Cross-border tax avoidance arrangement disclosure rules devised by the OECD (known as the mandatory disclosure rules, or MDR) will enter into force in the UK on 28 March 2023. Arrangements entered into on or after this date must be reported to HMRC under this regime.
FACULTIES ONLINE TAX FACULTY TAX NEWS MDR: ICAEW concerned over backdated reporting
  • Feb 2022
  • ICAEW
ICAEW’s Tax Faculty welcomes that the new rules designed to implement the OECD’s model mandatory disclosure regime are targeted at those arrangements that might allow or facilitate tax evasion. However, it has concerns over the backdated reporting requirements, which exceed those of the predecessor DAC 6 legislation.
FACULTIES ONLINE TAX FACULTY TAX NEWS HMRC expands reporting portal for mandatory disclosure rules
  • Mar 2021
It is now possible to manually report arrangements between the UK and EU member states under the mandatory disclosure reporting regime (commonly known as DAC 6).
FACULTIES ONLINE TAX FACULTY TAX NEWS Final call for first UK DAC 6 reporting deadline
  • Jan 2021
  • Richard Jones
27 January 2021: The first reports under the UK’s mandatory disclosure regime, based on the EU’s DAC 6, are due on 30 January 2021. ICAEW’s Tax Faculty provides a reminder of the rules.
FACULTIES ONLINE TAX FACULTY TAX NEWS HMRC launches online tool for mandatory disclosure reporting
  • Jan 2021
  • Richard Jones
19 January 2021: HMRC has opened its portal to allow taxpayers and intermediaries to report arrangements that fall under OECD mandatory disclosure rules, but agent functionality is not yet available.
FACULTIES ONLINE TAX FACULTY TAX NEWS DAC 6 to be replaced by OECD rules for UK intermediaries from 2021
  • Jan 2021
  • ICAEW Insights
HMRC has confirmed that the UK will no longer be applying DAC 6 in its entirety following conclusion of the Free Trade Agreement with the EU. Only arrangements that would have fallen within Category D of DAC 6 will now need to be reported, in line with the OECD’s mandatory disclosure rules.
FACULTIES ONLINE TAX FACULTY Red flags to navigate DAC 6 hallmarks
  • Dec 2020
  • Simon Bird
15 December 2020: With the first reporting deadline less than two months away, Simon Bird from BDO LLP talks through a risk-based approach to compliance with DAC 6, highlighting practical ways in which entities can recognise the classes of arrangements which might be subject to these rules.
INSIGHTS FEATURE Practically speaking: more time for DAC6 reporting
  • Sep 2020
  • Quarterly
Deadlines for reporting cross-border transactions under DAC6 regulations intended to identify tax practices with particular hallmarks have been extended. Taxpayers and their advisers are being warned, however, not to be complacent.
FACULTIES ONLINE TAX FACULTY DAC 6: Disclosable arrangements - common questions and misconceptions
  • Jul 2020
  • Angela Clegg
ICAEW’s Tax Faculty explains why all ICAEW members need to be alert to their potential reporting obligations. Highlighting common misconceptions and answering frequently asked questions about the regime.
DAC6 reporting pushed to 2021 due to COVID
  • Jun 2020
  • ICAEW Insights
The UK government is deferring the first reporting deadlines under DAC6 for six months, in light of the impact of the coronavirus pandemic on businesses.
FACULTIES ONLINE TAX FACULTY TAX NEWS Delay to DAC6 exchange of information
  • May 2020
  • Angela Clegg
11 May: European Commission (EC) proposes three-month postponement of the exchange of information under the Directive on Administrative Cooperation (DAC6) due to the coronavirus.
Displaying 1-14 of 14 results

TAXbite: DAC 6 in brief

Overview of the EU Mandatory Disclosure Regime, covering: what is DAC 6; who it affects; what types of arrangements will be caught; what the reporting requirements are, and potential penalties.

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