Why the government’s General Anti-Abuse Rule won’t beat tax avoidance

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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.