He added: “It will be interesting to see other changes that might be brought in, arguably to make the UK more competitive.”
But Robert Langston, national tax partner at Saffery Champness, said the government needed to be clearer on any rule changes it intends to make.
“There was a lot of work and investment by professional service firms in getting ready for DAC6 reporting, both identifying cases and implementing software,” Mr Langston said.
“It is disappointing that the government was not clearer on the roadmap.”
He added: “Right up until Christmas, HMRC were still working on the basis that DAC6 was going ahead; they were arranging workshops with agents to run through the reporting platform.”
Although DAC6 will be replaced, the disclosure of tax avoidance schemes (DOTAS) will continue to apply in the UK.
Under DOTAS a tax avoidance scheme promoter is required to disclose the main elements of the scheme to HMRC.
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