Clifford Chance

What will the proposed new general anti-avoidance rule mean for British business?

28 November 2011

Graham Aaronson QC, appointed by the Government to investigate a general anti tax-avoidance rule ("GAAR"), released his report today. He recommends a narrow anti-abuse rule targeted at artificial schemes and designed not to affect "responsible tax planning".

We look at the details of the Aaronson Report and answer the key questions for British business: will this impact on ordinary commercial transactions and so add to the cost and complexity of doing business in the UK? Or are its authors right that only extreme cases will be affected?

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