'A fascinating and innovative development aimed at “changing behaviours”'
Panel will give opinions to HMRC and taxpayers about the rule’s application to individual cases
‘Sufficient checks and balances are not yet in place,’ says head of tax at Berwin Leighton Paisner
‘Loopholes are being closed with immediate effect,’ the chancellor announced
Treasury committee set to begin its own inquiry into Britain’s tax system
Carry forward of trade losses is a well-established feature of tax law
It is our job to change the law, Commons treasury committee chairman told HMRC
Some activity that is not technically ‘tax avoidance’ may still be problematic. But a GAAR cannot deal with it, and it is unfair to criticise HMRC over multinationals’ tax planning, Judith Freedman tells Tax Journal.
Package includes expansion of unit focusing on affluent individuals
HMRC insists that it has been ‘very successful’ in reducing tax avoidance by large businesses