Draft regulations: Mandatory Disclosure Rules

At Budget 2021, the government announcement that it would implement the Organisation for Economic Cooperation and Development’s (OECD’s) ‘Model Mandatory Disclosure Rules for Common Reporting Standard (CRS) Avoidance Arrangements and Opaque Offshore Structures’.

The model rules require taxpayers and intermediaries to disclose information on these types of arrangements and structures to HMRC. These regulations will replace similar EU rules introduced previously.

You can read the consultation document and the draft regulations on this page.