Clegg hints GAAR could arrive in Budget 2012

Clegg placed emphasis on the creation of a new general anti-avoidance or anti-abuse rule (GAAR) in an interview with BBC Radio 4's Today this morning. In December, a government-commissioned report recommended a GAAR as a viable way to crack down on tax abuse and simplify the system. Clegg refused to confirm whether or not the GAAR will definitely be included in this year's budget, but said: "There should be a general rule that you cannot play the system. "We have received a report from an expert, Graham Aaronson, which says an anti-abuse rule is feasible. "I very much hope, and ...