Disclosure of Tax Avoidance Schemes: reporting scheme reference numbers (SRN) to HMRC

Changes will be made to improve the procedure by which scheme users report a SRN back to HMRC.

In detail

These changes take effect for tax return periods beginning on or after 1 April 2009 and the main change concerns the time when a scheme user is required to report a SRN.

The change will mean the SRN is now first reported in the tax return for the year or accounting period in which the scheme is implemented. Other changes will extend and clarify the circumstances in which the user is to report a SRN on the HMRC form (AAG4) rather than on a tax return including:

• where the user is an individual who makes a freestanding claim for loss relief which is affected by the use of the scheme; and
• where there are insufficient boxes on the return for the user to report all of the SRNs required to be reported.