GAAR consultation launched today

[LisaContractorUmbrella]

So will this GAAR put an end to the new offshore schemes that have replaced EBT's?

I think, if HMR&C have their way, it will put an end to everything other than them taking 100% of your money and giving you back £50 per week pocket money

[Waldorf]

So will this GAAR put an end to the new offshore schemes that have replaced EBT's?

[BlasterBates]

...and further more they are considering what to do with arrangements that were started before April 2013 and haven't been concluded. Outstanding EBT loans spring to mind. I suspect this is exactly what they're considering here.

[LisaContractorUmbrella]

This is quite telling

"The GAAR is intended to be capable of altering the tax consequences of abusive arrangements if the consequence claimed is one that manifestly would not have been countenanced by Parliament had it forseen the arrangement and the claimed tax consequences. Such arrangements inevitably seek to take advantage of perceived limitations, or shortcomings in, the tax legislation"

[LisaContractorUmbrella]

Government consults on new general anti-abuse rule for tax - HM Treasury