{"id":98966,"date":"2019-01-14T16:26:45","date_gmt":"2019-01-14T16:26:45","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=71fd5c3a1b9b818db0ac5d215e92e39d"},"modified":"2019-01-14T16:26:45","modified_gmt":"2019-01-14T16:26:45","slug":"new-disclosure-facility-targets-profits-diverted-overseas","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=98966","title":{"rendered":"New disclosure facility targets profits diverted overseas"},"content":{"rendered":"<div class=\"field field-name-body field-type-text-with-summary field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\" property=\"content:encoded\">\n<div>&#13;<br \/>\n\tHMRC has launched a profit diversion compliance facility for multinationals whose transfer pricing arrangements might take them within the scope of the diverted profits tax (DPT).\u00a0<\/div>\n<p>&#13;<\/p>\n<div>&#13;<br \/>\n\t\u00a0<\/div>\n<p>&#13;<\/p>\n<div>&#13;<br \/>\n\tThe facility will allow companies with outstanding liabilities to register before HMRC launches an investigation, pay the tax and make a full report within six months. It will be treated as an unprompted disclosure for penalty purposes.\u00a0\u00a0<\/div>\n<p>&#13;<\/p>\n<div>&#13;<br \/>\n\t\u00a0<\/div>\n<p>&#13;<\/p>\n<div>&#13;<br \/>\n\tEligibility for maximum penalty reductions in most cases would require registration or disclosure to be made by 31 December 2019.<\/div>\n<p>&#13;<\/p>\n<div>&#13;<br \/>\n\t\u00a0<\/div>\n<p>&#13;<\/p>\n<div>&#13;<br \/>\n\tJason Collins, partner at Pinsent Masons, said: \u2018HMRC\u2019s latest disclosure facility represents a last-chance saloon &#8230;<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<div>\n<div>\n<div>\n\tHMRC has launched a profit diversion compliance facility for multinationals whose transfer pricing arrangements might take them within the scope of the diverted profits tax (DPT).&nbsp;<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\tThe facility will allow companies with outstanding liabilities to register before HMRC launches an investigation, pay the tax and make a full report within six months. It will be treated as an unprompted disclosure for penalty purposes.&nbsp;&nbsp;<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\tEligibility for maximum penalty reductions in most cases would require registration or disclosure to be made by 31 December 2019.<\/div>\n<div>\n\t&nbsp;<\/div>\n<div>\n\tJason Collins, partner at Pinsent Masons, said: &lsquo;HMRC&rsquo;s latest disclosure facility represents a last-chance saloon &#8230;<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/98966"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=98966"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/98966\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=98966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=98966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=98966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}