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Degrees of acceptability

01 October 2013

Russell Cockburn looks at the new tax General Anti-Abuse Rule, considering the impact that recent moves against so-called ‘aggressive tax planning’ will have on its application.

The introduction of the new General Anti-Abuse Rule (GAAR) to UK tax legislation from April 2013 is a very significant development in tax policy in the UK. It will almost certainly have a significant impact on anyone involved directly or indirectly in tax planning activity in the future. Although it is tempting to assume that its application will only be relevant for what have been dubbed ‘contrived and artificial tax avoidance schemes’, the recent public debate about tax tactics apparently adopted by some very large corporates has added a whole new dimension to this issue.

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