HMRC has now published the terms of reference for the GAAR Advisory Panel. The Panel will both approve HMRC’s guidance on the GAAR and deliver opinions on whether arrangements fall foul of the GAAR.

We noted last month that the first Panel-approved version of the GAAR guidance runs to nearly 200 pages. Subsequent versions are expected to be published annually in October.

Current Chair, Patrick Mears, will select a suitably experienced sub-panel of three members to consider each specific case and provide an opinion thereon.

In some circumstances, the Chair may recommend to HMRC the appointment of additional persons to the Panel to ensure the relevant sub-panel has the appropriate expertise. These temporary appointees will be a member of the Panel only for as long as their appointed case requires.

For more information see: General Anti-Abuse Rule (GAAR) Advisory Panel