Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Promoter definition

What does Promoter mean? In practice, a promoter is the person or business that takes the lead in forming a company: originating the venture, structuring it, securing capital or assets, and taking the steps to incorporation. The term is a case law concept rather than a statutory definition in the UK or Ireland, and is used across corporate, financing and IPO contexts. Key legal features include a fiduciary relationship to the company (and, in some contexts, to prospective shareholders) from the point the promoter begins acting. A promoter must act in good faith, avoid conflicts, and not make secret profits. Any profit or self-dealing must...

UK penalties for enablers of defeated abusive tax arrangements and HMRC publication powers: scope, definitions, GAAR gateway, sanctions, procedures, time limits, appeals, and legal professional privilege declarations

Published by a LexisNexis Private Client expert

Practice notes

Levying penalties against those who enable defeated tax avoidance arrangements is intended to deter the architects, sellers and intermediaries of abusive avoidance structures and arrangements. Rolling out and strengthening this statutory framework forms part of a wider governmental drive, developed over a number of years, to eradicate tax evasion and aggressive tax planning. Complementary actions in this sphere encompass the general anti‑abuse rule (GAAR); issuing Conduct notices to promoters of tax avoidance schemes (POTAS); creating criminal offences for promoters and offshore tax evaders; and publishing a further revised edition of the Professional Conduct in Relation to Taxation guidance (see General Principles of tax avoidance—Private Client—overview for further details). At Spring Statement 2025 on 26 March 2025, the government opened a consultation on a package of measures aimed at tightening the net around promoters (and other enablers) of marketed tax avoidance, with the consultation open until 18 June 2025, as set out by government...

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Web page updated on 22/05/2026

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