Proposals for a General Anti-Avoidance Rule in UK Tax
- Podcast Location:
- Download it here [file size: 26.4 MB]
- Categories:
-
Tax Law
- CPD Points:
- Up to 1 point. details »
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- Length:
- 30 minutes of audio
(+ optional 5 minute online quiz) - Plays on Computer:
- Yes Downloadable as MP3: Yes
- Contributor(s):
- Course Aims:
The aim of this podcast is to set out the arguments for the introduction of a GAAR in the UK. Using the collective experience of two senior tax practitioners, the podcast will address the intellectual and practical benefits and difficulties of such a scheme may introduce.
- Outcomes:
- After completing the course you will:
- Understand what a GAAR is and how it works;
- Understand how a GAAR differs from traditional Targeted Anti-Avoidance Rules (or TAARs);
- Be aware of the practical difficulties that may be experienced by business and individuals if such a rule were introduced;
- Understand the arguments for and against the publication of decisions;
- Be aware of the likely impact of a GAAR on HMRC’s inspection powers;
- Be aware of the possible conflict between the freedom of taxpayers to arrange their affairs in a tax efficient way and a GAAR.
- Level:
- Complex
- Classification:
-
Legal Principles
Panel Discussion
- Sources and References:
-
- Astall v Revenue & Customs (2009) LTL 9/10/2009;
- Ramsay v IRC [1982] AC 300 (HL);
- IRC v Duke of Westminster [1936] AC 1 (HL);
- Barclays Mercantile Business Finance Ltd v HM Inspector of Taxes [2004] UKHL 51;
- MacNiven v Westmoreland Investments Ltd [2003] 1 AC 311;
- Canada Trustco Mortgage Co v The Queen 2005 SCC 54.
In this podcast, James Bullock and Rupert Shiers make a frank assessment of the prospect of a GAAR (a General Anti-Avoidance Rule) being introduced by the new government into the UK's tax code and what such a proposal may mean for business and individuals.
