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DAC 6 comes into force in the UK on 1 July 2020. It will impose a reporting obligation that will require many law firms, particularly those advising on matters that are international in scope, to report to HMRC about some of their matters. Law firms affected by this reporting obligation will need to start preparing for it as soon as possible in order to be ready to comply by 1 July. 

The SRA has recently sent out an email to 7,000 Compliance Officers for Legal Practice (COLPs) asking them to confirm the following: I confirm that the information I have given is correct, to the best of my knowledge and belief and that I will notify you if anything changes in respect of the information provided in the future.

One of the key changes in the new SRA Standards & Regulations will require you and your firm to evidence how you are meeting your compliance obligations.