Revenue has published its amended Guidance Notes on the mandatory disclosure regime. The amended guidance notes reflect the changes introduced by Finance Act 2014 which are effective for any transaction which is commenced after 23 October 2014.

Details on the main changes to the guidance notes are set out in Revenue eBrief No. 07/15. In the eBrief practitioners and taxpayers are reminded that, in relation to transactions that are commenced after 23 October, Revenue will treat any disclosures or information received by 31 January 2015 as having been received in a timely manner with the result that no penalties for late disclosure will apply.

Further information on the mandatory disclosure regime along with links to relevant forms and legislation are available from the Revenue website.