The Government published its consultation on the proposed General Anti-Abuse Rule (GAAR) on 12 June 2012. I have submitted my thoughts and comments on the proposals today.
It is inevitable that we will end up with a GAAR of some description and I actually think that Graham Aaronson’s proposals were pretty good. It was, perhaps, inevitable that the Government would want to tweak those proposals but I am concerned by the scope of some of those “tweaks”.
The consultation closes on 14 September, so there’s still time if you want to respond.