Tax Journal issue 1127: HMRC powers

This week’s edition focuses on HMRC powers, a key area of interest to tax advisers. We have views on topical aspects from tax advisers across the profession. It will not have escaped your attention that HMRC is now consulting on a general anti-abuse rule (GAAR). The government has proposed that the GAAR should also apply to SDLT and IHT – against Aaronson’s advice – as well as to the proposed annual charge on ‘enveloped property’. Although the GAAR is intended to apply only to ‘abusive’ tax arrangements, a key issue for advisers is the extent to which legitimate tax planning will be caught. See our news report for further detail.