HMRC has updated its GAAR guidance with effect from 16 July 2021. Parts A, B, C and E of the official guidance have been updated, while Part D remains unchanged. The updates reflect the FA 2021 changes which particularly affect the application of the FA 2013 GAAR legislation to partnerships and partners, including the introduction of the Schedule 43D notices. References in the guidance to ‘taxpayers’ should now be read as also covering partnership situations. A new section E3.26 has been added under Part E with detailed information on the GAAR and partnership arrangements.
HMRC has updated its GAAR guidance with effect from 16 July 2021. Parts A, B, C and E of the official guidance have been updated, while Part D remains unchanged. The updates reflect the FA 2021 changes which particularly affect the application of the FA 2013 GAAR legislation to partnerships and partners, including the introduction of the Schedule 43D notices. References in the guidance to ‘taxpayers’ should now be read as also covering partnership situations. A new section E3.26 has been added under Part E with detailed information on the GAAR and partnership arrangements.
