ARTICLE · 28 NOVEMBER 2012

Weekly Tax Update - Monday 12 November 2012

Smith & Williamson

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The Government has announced that it will appoint an interim advisory group to oversee the development of guidance on the new General Anti-Abuse Rule (GAAR).

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Richard Mannion

1. GENERAL NEWS

1.1. GAAR – interim advisory group

The Government has announced that it will appoint an interim advisory group to oversee the development of guidance on the new General Anti-Abuse Rule (GAAR).

At Budget 2012, the Government announced that a GAAR Advisory Panel would be established to give opinions on specific cases and to approve HMRC guidance on the new rule. HMRC will shortly begin the process of advertising for and appointing a Chair of the Advisory Panel, who will then advise HMRC on appointing the other panel members.

This process will not be complete until early next year. Until this time an interim group of panel members led by Graham Aaronson QC will oversee the development of the new guidance, after it is published for public consultation in December.

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