Government appoints GAAR advisory panel
In next March's Budget, the government said that a GAAR Advisory Panel would give opinions on specific cases and approve HMRC guidance on the new rule.
HMRC said it hopes to have appointed a chair of the panel by early next year. Before then an interim group of panel members led by Graham Aaronson QC will oversee the development of the new guidance, after it is published for public consultation in December.
In 2011, a report led by Aaronson recommended a "narrowly focussed" GAAR, which he said would deter abusive tax avoidance and explain what types of avoidance schemes are unacceptable and covered by the rule.