People keep asking me why the government's proposed General Anti-Abuse Rule won't beat tax avoidance.
I explained this relatively briefly in a submission to the House of Lords in January, here.
The General Anti-Abuse Rule may stop the most artificial of tax schemes. But when it comes to tax avoidance it has not a hope, and that's deliberate. Which is why it is so misleading of the government to claim otherwise.
What is needed, of course, is a general anti-avoidance principle. But the government won't deliver that.