I read legislation before 6th April 2016 that HMRC were planning on brining in TAAR to prevent moneyboxing but this was more complicated that Phoenixing and that they needed a consultation on it.
Has anything progressed with this? Is there actually any legislation that currently prevents it?
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Nothing as yet, but don't assume that it's off the table. I fully expect this to come back after the election.
There is actually a provision that catched moneyboxing.
It has been slipped into the transactions in securities legislation, but HMRC must use the counteraction procedure to give it effect.