General Anti Avoidance Rule...

[prozak]

Heard mention this morning on Radio 4 that the government is looking at a GAAR rule.

BBC News - Clegg and Cameron pledge action on firms' tax avoidance

The question is to what will this extend?

This is the australian version of it relating to personal service companies.

General anti-avoidance rules and how they may apply to a personal services business

[northernladuk]

Nick Clegg and David Cameron have said they want to do more to stop tax avoidance by big companies.

The prime minister also said a "tougher approach" was needed towards large firms with "fancy corporate lawyers".

Last month a Commons committee criticised "cosy" deals between HM Revenue and Customs and big businesses.

Maybe read the article first??

[prozak]

Maybe read the article first??

maybe read my post first?

"The question is to what will this extend?"

Once they start with a GAAR they wont necessarily stop at big companies.

But thanks for the pointless comment.

[northernladuk]

maybe read my post first?

"The question is to what will this extend?"

Once they start with a GAAR they wont necessarily stop at big companies.

But thanks for the pointless comment.

They are going to put a policy in to try and deal with large companies avoiding tax with big lawyers that avoid billions of pounds. The vodafones etc...

This policy will not work if a company isn't a) large and b) doesn't have lawyer so will need a completely different policy. That is the one you want to worry about, not this one.

Just because they mention tax avoidance it doesn't mean you have to run for the hills. It is bigger than just one man companies and a single solution will not fit all.

Thanks for the off topic post.