MULLING OVER PROSPECTS FOR FINANCE BILL 2013

摘要

Mid-December sees the publication of the Finance Bill 2013 (FB 2013), which should contain several key pieces of legislation, some of which may get a name check in the autumn statement on 5 December. It has been clear for a while that the UK has been heading down the route of a general anti-abuse rule (GAAR). In June this year, a consultation was released setting out the proposed legislation and processes; this was met with a mixed response. Although much will rely on the accompanying guidance, which has not yet been published, there are worries that the GAAR, as currently drafted, is too broad, and could result in uncertainties for the taxpayer and possibly years of arguments.