Market leading insight for tax experts
View online issue

Back to basics: The GAAR

Speed read
The general anti-abuse rule (GAAR) was introduced in 2013 to deter taxpayers from using ‘abusive’ tax schemes. It counteracts arrangements that cannot reasonably be regarded as a reasonable course of action in relation to the relevant tax provisions. Factors considered include the policy intention of the legislation, whether shortcomings in the legislation are exploited and whether there are contrived or abnormal steps. Taxpayer protections include the requirement for an opinion from the GAAR advisory panel before a final notice can be issued. To date, HMRC has issued around 3,700 GAAR opinion notices applying GAAR advisory panel opinions. Penalties were introduced in 2016, and FA 2021 made changes to make the regime work for partnerships.

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
EDITOR'S PICKstar
Top