UK Accounting Glossary
These are a cluster of statutory provisions intended to stop certain arrangements that would reduce a taxpayer’s tax liability.
Anti-Avoidance provisions are a cluster of statutory provisions intended to stop certain arrangements that would reduce a taxpayer’s liability for tax.
An anti-avoidance measure is a rule that prevents the reduction of tax by legal arrangements, where those arrangements are put in place purely to reduce tax, and would not otherwise be regarded as a reasonable course of action.
The main anti-avoidance provisions concern:
The General Anti–Abuse Rule (GAAR) was brought into force in July 2013 as a way to manage the risk of tax avoidance and to target abusive avoidance schemes without damaging the overall competitiveness of the UK financial system.
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Definitions for Anti Avoidance Provisions are sourced/syndicated from:
This glossary post was last updated: 7th February 2019.