The Aaronson Report: a bridge to a GAAR? | Practical Law
The Aaronson Report, published on 21 November 2011, and broadly endorsed by the Chancellor in his March Budget, considered whether the UK tax system could benefit from a general anti-avoidance rule (GAAR), concluding that the current system of dealing with tax avoidance is inadequate and advocating the introduction of a moderate GAAR in the UK. This article examines the conclusions drawn by the Aaronson Report, and identifies the salient features of the GAAR that the Report proposes the government implement.