UK HMRC updates GAAR guidance

The UKs HMRC has updated its general antiabuse rules (GAAR) guidance, effective January 30.

The guidance summarizes GAAR provisions, operates as an aid to the interpretation and application of the GAAR, provides examples of transactions that may be subject to GAAR, and describes procedure in GAAR cases.

See:

• Part A – purpose and status of the guidance, Part B – summary of what the GAAR is designed to achieve and how it operates to achieve it,  and Part C – specific points

• Part D – Examples

• Part E – GAAR procedure