UK HMRC has published guidance dated 11 April 2022 on the new penalty for UK-based entities facilitating avoidance schemes involving non-resident promoters. Rules for the new penalty were introduced as part of the Finance Act 2022 with effect from 24 February 2022, which is the date the Act received royal assent. --- Overview This guidance is based on legislation contained in Finance Act 2022 which introduces a new penalty applicable to UK-based entities who facilitate tax avoidance schemes involving non-resident promoters. The penalty can be for an amount up to 100% of the total fees, or the amounts which are...