HMRC has published its ‘final guidance’ on how DAC6 will operate in the UK. It includes details on the interpretation of the hallmarks, penalties and reasonable excuses.
This guidance is an update to the draft that HMRC published in March 2020. Although the guidance is ‘final’, HMRC have noted that “there are still a small number of updates to this guidance which are pending and will be made in the coming weeks”.
If you are familiar with the guidance from March, you can download a comparison between the draft and final DAC6 guidance.