Introduction Background Note
28.Legislation introduced in Finance Act 2014 allows HM Revenue and Customs (HMRC) to issue conduct notices to promoters and subsequently monitor promoters who breach a conduct notice. Monitored promoters were made subject to new information powers and penalties which also applied to intermediaries that continue to represent them after monitoring commences. This measure will include associated and successor entities of promoters in the high-risk promoter regime. A small number of other changes are also included in this measure, aimed at ensuring the 2014 legislation functions as intended.
29.The changes to this legislation are part of the government’s strategic response to avoidance and to deter the use of avoidance schemes through influencing the behaviour of promoters, their intermediaries and clients.