HMRC updated its guidance on the general anti-abuse rule (GAAR) with effect from 31 March 2018. The main change is to the procedural guidance in Part E, with the addition of new section E9 to reflect the new set of sanctions under the serial tax avoidance regime. This regime applies to ‘defeated’ arrangements entered into on or after 15 September 2016, or before that date if defeated after 5 April 2017.
The GAAR applies to:
the main direct taxes and stamp taxes from 17 July 2013;
NICs from 13 March 2014;
diverted profits tax from 1 April 2015; and
apprenticeship levy from 15 September 2016.
The previous version of the guidance was published in March 2017. See https://bit.ly/1yCl4ve.
HMRC updated its guidance on the general anti-abuse rule (GAAR) with effect from 31 March 2018. The main change is to the procedural guidance in Part E, with the addition of new section E9 to reflect the new set of sanctions under the serial tax avoidance regime. This regime applies to ‘defeated’ arrangements entered into on or after 15 September 2016, or before that date if defeated after 5 April 2017.
The GAAR applies to:
the main direct taxes and stamp taxes from 17 July 2013;
NICs from 13 March 2014;
diverted profits tax from 1 April 2015; and
apprenticeship levy from 15 September 2016.
The previous version of the guidance was published in March 2017. See https://bit.ly/1yCl4ve.
