As the government considers a catch-all rule for tax abuse, the experts give us the lowdown...
In December 2010, the government announced its commitment to tackling tax avoidance, and commissioned tax lawyer Graham Aaronson to research the viability of a general anti-avoidance rule (GAAR). A GAAR would enshrine in legislation the idea that any tax scheme which is not in the spirit of the law, even if it is technically legal, would be void. Last week, Aaronson reported back, sparking relief and yet some controversy in the tax world. The report Aaronson recommended a general anti-abuse rather than avoidance rule. This helps to circumvent the argument over whether efficiency is ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes