Govt gets support for catch-all tax avoidance rule

clock

The government has moved a step closer to implementing a general anti-avoidance rule (GAAR) to the tax system after a report recommended the move today.

Graham Aaronson QC, who prepared a report on the feasibility of a GAAR for the Treasury, said today the rule would deter abusive tax avoidance schemes without affecting genuine tax planning. A GAAR would enshrine in legislation the principle that though some tax efficiency schemes may be technically legal, they are not within the spirit of the legislation and so can be treated as avoidance. Aaronson also said a general rule would create a more level playing field for businesses, reduce legal uncertainties around tax avoidance schemes, and simplify the tax system. A GAAR should appl...

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

Join

 

Already a Professional Adviser member?

Login

More on Tax Planning

TISA and industry urge government to rethink IHT on pensions

TISA and industry urge government to rethink IHT on pensions

Research proposes simpler alternatives

Isabel Baxter
clock 14 July 2025 • 5 min read
Supreme Court hands down landmark ruling in banker's divorce tax planning case

Supreme Court hands down landmark ruling in banker's divorce tax planning case

‘Significant implications for treatment of non-matrimonial assets on divorce’

Isabel Baxter
clock 02 July 2025 • 6 min read
IHT rule changes spark adviser-led surge in estate planning and charitable giving

IHT rule changes spark adviser-led surge in estate planning and charitable giving

Upcoming changes already beginning to influence charitable will-writing and estates market

Isabel Baxter
clock 16 June 2025 • 3 min read