“Minor procedural changes” or a circumvention of crucial safeguards?

In this article published in the British Tax Review, Rebecca Murray outlines the changes to the GAAR made by Finance Act 2020.

“The Rt Hon Jesse Norman MP, Financial Secretary to the Treasury (Mr Norman), described clause 98 and Schedule 13 to the Finance Bill 2020 as making “minor procedural and technical changes” designed to “ensure that the policy operates as originally intended”, and to “help to protect over £200 million in tax revenue by ensuring that the General Anti-Abuse Rule (GAAR) works effectively”. This note explains what these changes are and how they actually circumvent crucial safeguards to the operation of the GAAR. It questions the asserted financial impact and discusses evidence pointing to undesirable consequences.”

Rebecca Murray has a tax litigation and advisory practice in private client and corporate tax and VAT, as well as substantial experience of judicial review.

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