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An interim advisory group is to oversee the development of guidance on the proposed general anti-abuse rule (GAAR).
The government announced in the spring that a GAAR advisory panel would be established to give opinions on specific cases and approve HMRC guidance on the new rule.
The process of appointing a chairperson, who will then advise the Revenue on appointing the other members, is scheduled to begin shortly. In the meantime, a group will be led by Graham Aaronson QC to oversee the development of guidance.
Mr Aaronson, who produced the report on which the GAAR will be based, will invite trade and professional bodies to collaborate in an effort to ensure an appropriate spread of interests is involved, including business, tax advisers, and taxpayers in general.
It is expected that the permanent chairperson will be in the post by the end of January, and will join the interim group to provide continuity.
HMRC will not be represented on neither the advisory panel nor the interim group but will support both with administrative and secretariat resources.
Draft legislation and guidance is expected to be published next month.
The aim of the GAAR is to deter and counter abusive tax avoidance while providing certainty, and retaining a tax regime that is attractive to businesses and minimises costs for taxpayers and taxman.
