The Resource Getting tough on avoidance - blocking reverse annuities

Getting tough on avoidance - blocking reverse annuities

Label
Getting tough on avoidance - blocking reverse annuities
Title
Getting tough on avoidance - blocking reverse annuities
Creator
Subject
Language
eng
Summary
This article reviews the background to the introduction of section 48 of the Finance Act 1977 (now section 125 of the Income and Corporation Taxes Act 1988), an anti-avoidance provision aimed at reverse annuity schemes. The focus is not upon a detailed analysis of the section but on the events leading up to its introduction, its underlying policy and discussions that took place behind-the-scenes concerning appropriate drafting to achieve its aims. It is largely based on materials held by the Office of Parliamentary Counsel to which access was granted despite the papers being less than 30 years old. As a result of the 30-year rule, no materials on this subject are available at The National Archives (Public Record Office). The paper is a case study of the time-consuming way in which the Revenue discovered and dealt with avoidance schemes before the introduction of the disclosure system in the Finance Act 2004
Citation source
In: British tax review. - London. - (2005),
http://library.link/vocab/creatorName
Stopforth, D
Geographic coverage
  • European Union
  • Europe
Language note
English
http://library.link/vocab/subjectName
  • anti-avoidance
  • annuity
Label
Getting tough on avoidance - blocking reverse annuities
Instantiates
Publication
Label
Getting tough on avoidance - blocking reverse annuities
Publication

Library Locations

    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.3736660 4.9336932
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