ACCA Criticizes UK Anti-Avoidance Plans

ACCA Criticizes UK Anti-Avoidance Plans

The Association of Chartered Certified Accountants (ACCA) has attacked UK government plans to introduce a new General Anti-Abuse Rule against tax avoidance, stating that it is unnecessary and will cause uncertainty while failing to prevent tax legislation abuse.

ACCA representatives state that there is already considerable legislation in place to capture tax abuse. If the government feels businesses are not paying enough tax, anti-abuse measures are not the way to resolve that. A fundamental review of the tax system is needed instead of a General Anti-Abuse Rule.

ACCA believes that many instances of what has been named as "tax avoidance" are in fact within the perimeters of tax law and that the introduction of General Anti-Abuse Rule would not capture those instances. If the measure does go ahead, it should be phased in on a tax-by-tax basis to reduce uncertainty and to identify any problems the new rules have.

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