Guidance
GAAR Advisory Panel opinion of 12 February 2020: miscellaneous income losses
Use the GAAR Advisory Panel opinion on miscellaneous income loss and the creation of losses using mirroring forward contracts to help you recognise abusive tax arrangements.
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Use this opinion together with the General Anti-Abuse Rule (GAAR) guidance to help you recognise abusive tax arrangements.
The opinion covers miscellaneous income loss and the creation of losses, and using mirroring forward contracts when the matching gain is said to be not taxable.
It affects Income Tax.
The GAAR Advisory Panel’s opinion is the entering into and carrying out of the tax arrangements is not a reasonable course of action in relation to the relevant tax provisions.
Updates to this page
Published 16 March 2020