4 results found
Herbert Smith Freehills LLP | United Kingdom | 1 Mar 2012
HMRC clampdown on tax avoidance: banks in the firing line
Following a disclosure by a bank (now confirmed as Barclays) HMRC, on 27 February 2012, published proposed new legislation aimed at closing loopholes in the rules in the loan relationship legislation dealing with the buy-back of impaired debt by connected companies (also known as the "deemed release" rules).
Herbert Smith Freehills LLP | United Kingdom | 7 Dec 2010
The Government makes key announcements on anti-avoidance measures
Yesterday, the Government launched a 'study programme' to establish whether an effective General Anti-Avoidance Rule (GAAR) could be developed to form part of the UK tax system.