UK opens consultation on tackling serial use of tax avoidance schemes, additional GAAR penalties

The UK’s HMRC on January 30 published a consultation paper entitled “Strengthening Sanctions for Tax Avoidance,” setting out proposals to address the serial use of tax avoidance schemes and proposing to introduce additional penalties when the general antiabuse rule (GAAR) applies.

The consultation will run until March 12.

See:

• Consultation paper

• Release