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GAAR workshop

A workshop to be hosted by the Treasury and HMRC early next month will explore issues arising from ‘informal’ discussions following the Government’s commitment to consider the merits of a general anti-avoidance rule.

The June Budget announced that the Government would consider whether there is a case for developing a GAAR taking account of other planned changes including corporation tax reform. Reaction to the proposals has been mixed with some practitioners warning that a GAAR would create additional uncertainty and others suggesting that a principles-based anti-avoidance regime accompanied by the repeal of specific anti-avoidance measures should be considered (see Tax Journal issue 1037 12 July).

KPMG’s Head of Tax Policy in the UK Anneli Collins observed that the use of a GAAR as a means to simplify anti-avoidance ‘seems well within the remit’ of the Office of Tax Simplification. Writing in last week’s...

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