Finance Bill 2011 clauses published

After the relative non-event of the autumn statement, the 9 December follow-up publications amount to a significant Budget preview in their own right.

 

The avalanche of draft clauses and accompanying documentation came as a bit of a surprise, but was welcomed by AccountingWEB.co.uk Tax Editor Rebecca Benneyworth as evidence of the coalition government’s new approach to tax policy making.

“What is new about this is that every single bit of legislation explains what it’s trying to achieve. That’s good,” she said.

With the general anti-avoidance rule (GAAR) lurking in the background, publishing the intentions behind the measures will make it easier for tribunals and courts to identify when people have set out to avoid a specific tax rule, she suggested. “It’s an intelligent approach because it gives us a clear steer to understand the provisions and will make a GAAR easier to implement.”

 

Some of the measures set out have already dribbled out, for example personal tax rates and thresholds were published on 2 December, while Treasury Exchequer secretary David Gauke issued a  written statement on anti-avoidance measures against disguised remuneration (PDF 34KB) on Monday.