Section 158: general anti-abuse rule: penalty

In: https://ora.ox.ac.uk/objects/uuid:69b976b1-7571-44bb-b429-8915200ac96a

Abstract

No case under the general anti-abuse rule (GAAR) introduced in Part 5 of the Finance Act 2013 (FA 2013) has yet been brought to the GAAR Panel or the courts. Nevertheless, in section 158 of the Finance Act 2016 (FA 2016) the Government has seen fit to add a penalty.