Tax Avoidance

What is avoidance? Evasion; avoidance; mitigation (Templeman's view). Historical overview: statute; courts; 1920 - s739; close companies; settlement provisions. Ramsay principle. Overseas experience - GAAR, the courts, US: Commonwealth. GAAR. Formulations of anti-avoidance provisions. Sole or main purpose. Sole or main benefit. Neither purpose nor benefit (eg ss86/87 TCGA); Schedule 18. Corporation tax; SSE; Sch 7AA; loan relationships; intangibles; derivatives; group relief; REITs. Capital gains tax losses, s16A; value shifting, ss29/30. Income tax: settlements, transfer of assets abroad; transactions in securities; sideways loss relief (extended by FA 08 to sole traders). CAs: Leasing. SDLT. VAT: abuse (Halifax etc). Clearances. Dealing with HMRC: settlement; judicial review; litigation; penalties; discovery. Litigation procedures. Disclosure. Principles based approach. European law: Cadbury's Schweppes & the UK approach.