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DAC 6: EU tax disclosure

DAC 6 is a system of mandatory reporting of cross-border tax arrangements affecting at least one EU member state where the arrangements fall within one of a number of “hallmarks”. Whilst the EU continues to apply DAC 6 in full, it was announced on 31 December 2020 that the UK has decided to only apply the regime in respect of arrangements that fall within a narrower set of hallmarks. This is effectively equivalent to the OECD’s mandatory disclosure regime.

Articles and features

Recordings

Bloomsbury Core Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Core Accounting and Tax Service.

EU DAC 6 - the EU Mandatory Disclosure regime

A chapter giving an overview of the EU Directive on Mandatory Disclosure rules, 'DAC 6', in this practical guide to the automatic exchange of information rules legislation within the UK.

EU DAC 6 - Who must report?

A chapter giving an overview of the EU Directive on Mandatory Disclosure ('DAC 6') reporting rules, in this practical guide to the automatic exchange of information rules legislation within the UK.

DAC 6

A chapter covering the law and associated practical matters concerning DAC 6 compliance for tax professionals.

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Representations

ICAEW Rep 43/20 Frank Haskew letter to FST

On 30 June Frank Haskew, Head of ICAEW's Tax Faculty, wrote to Jesse Norman the Financial Secretary to the Treasury ahead of the summer economic update. In the letter he outlines the three priorities ICAEW believes should guide future government policy: stabilising the economy in the short-term, building sustainability into the medium-term recovery plans, and securing the ability of British business to compete internationally in the long-term.

ICAEW REP 02/20 Spring 2020 Budget - Letter to Jesse Norman

ICAEW writes to the Financial Secretary on priorities for Budget 2020. These must: ensure the UK remains an internationally attractive location for business to locate and invest. The Government should prioritise work in five areas: align the UK tax system with its policy objectives, take time to get legislative change right first time, review the costs and benefits of Making Tax Digital, properly resource HMRC, and seize the opportunity presented by the UK leaving the European Union to reform VAT.

ICAEW REP 114/19 Budget letter to Jesse Norman

ICAEW's Tax Faculty responded to HM Treasury's invitation for comments ahead of the proposed 2019 Budget. The response recommended that the Government should prioritise steps to ensure the UK remains a competitive place in which to invest and do business. Business needs certainty and we recommend minimising change in the short term, while continuing to build the road maps for future policy implementation. It is particularly important that any policy announcements are accompanied by an analysis of the IT changes which will be needed, how these will be delivered, and at what cost. Although the forthcoming General Election means this Budget is now cancelled, our comments remain pertinent to the plans of a future government.