The government has proposed a General Anti-Avoidance Rule (GAAR), which would effectively put a blanket ban on any accounting structure that could be judged as a tax loophole – without any specific rule being in breach.
A recipe for confusion for both HMRC and taxpayers, that will cause more disputes than it attempts to resolve.
Tax does have to be taxing.
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Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.
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