Is there a dire need for a general (statutory) anti-avoidance rule in the UK?
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When the Labour government won the general elections in May 1997, they made it quite clear that they were unsatisfied with the current state of the law as regards tax avoidance. In his first budget the Chancellor of the Exchequer asked the Inland Revenue to look at the possibility of introducing a general (statutory) anti-avoidance rule (GAAR) in the United Kingdom.