Jamie Grossman Partner

• +44 (0)20 7832 0444
• Send me an email
• Connect with me on LinkedIn
• Download my vCard

Jamie Grossman

Partner

Jamie joined the Wilson Wright audit team after qualifying with Ernst & Young in 2003. He has been a partner since 2008 and currently heads our business services and outsourcing department.

Jamie has a broad experience in all aspects of accounting, auditing, corporation tax and financial management. He has significant experience in property investment and development, sport, leasing, and the arts. Jamie acts for clients ranging from early stage start-ups through to established international groups.

He is a member of the Institute of Chartered Accountants of Scotland and has an honours degree from the University of Birmingham in accounting and finance.

11 Mar 2021

HM Revenue & Customs (HMRC) has confirmed that the UK will replace the European Union cross-border tax arrangement rules “as soon as practicable”, but some aspects will continue to be enforced for a “limited time”.

In an update to agents, the regulator said it will consult on and implement the Organisation for Economic Co-operation and Development’s (OECD) mandatory disclosure rules as the UK transitions to international laws.

The announcement means that businesses will be required to continue to partially report under European disclosure laws, known as DAC 6 (Directive 2018/822).

Introduced last year, DAC 6 is an EU-wide mandatory disclosure regime that imposes mandatory reporting of cross-border tax arrangements. Reporting is required by law when at least one EU business is involved in an arrangement that falls into one of several categories, known as “hallmarks”.

According to HMRC, taxpayers and their advisers will still be required to report arrangements that meet hallmarks under “category D” for a “limited time”. These include:

• arrangements which may have the effect of undermining reporting obligations concerning the automatic exchange of information; and
• arrangements which obscure beneficial ownership.

Commenting on the report, HMRC said: “Following the end of the EU transition period the UK will move to global tax standards rather than EU ones (like DAC 6).

“Reporting under DAC 6 will still be required for a limited time until mandatory disclosure rules are implemented. However, reporting will only be required for arrangements which meet hallmarks under category D. This is in line with the Free Trade Agreement with the EU.”

For help and advice with related matters, please get in touch with our expert Brexit advisory team today.