Executive summaryOn 30 November 2021, as part of tax administration and maintenance day, the United Kingdom (UK) Government issued a technical consultation along with draft regulations to implement new UK mandatory disclosure rules (MDR). These rules will be based on the Organisation for Economic Co-operation and Development (OECD) model disclosure rules for Common Reporting Standard avoidance arrangements and opaque offshore structures which were published in March 2018. MDR requires advisers (and sometimes taxpayers) to report information to the tax authorities on certain prescribed arrangements and structures, including those that could circumvent the Common Reporting Standard tax transparency rules. This information could be exchanged between...