On 28 March 2018, HMRC published updated guidance for the general anti-abuse rule (GAAR).

In particular, Parts A, B and C have been updated to explain:

• the purpose and status of the guidance

• what the GAAR is designed to achieve, and

• how the GAAR operates.

Advice is also given on how to recognise an abusive tax arrangement and the process for counteracting such an arrangement.

A copy of the guidance is available to view here