Coming soon – a General Anti-Tax Avoidance Principle Bill in the House of Commons

Posted on

We're into the last fortnight of the consultation on the governments proposal for a lame General Anti-Abuse Rule for tax. I know it's lame as the government says it will have no significant economic impact. In fact, it's not meant to do anything at all: it's designed to be  ineffective with the intention that  anything not caught by it will be deemed morally acceptable. It's hard to think of a better wheeze for the tax avoidance industry.

That's why the fact that Michael Meacher MP is tabling an alternative Bill, introducing a genuine General Anti-Tax avoidance principle on 14 September, is so important. We will have an alternative option available. A real principles based piece of legislation with the power to beat tax avoidance built in is being offered to the House.

I'll have more to say on this soon, when the Bill is published. But for now, watch this space. This debate's not over yet.