There are several indications in the legislation that the content of HM Revenue and Customs guidance should or may be taken into account in considering whether particular tax arrangements are abusive. The first of these is the likely exclusion from abusive tax arrangements of arrangements that accord with established practice where HM Revenue and Customs has indicated its acceptance of that practice1. The HM Revenue and Customs guidance on the tax area in question is the most likely place to find any such acceptance of established practice.
The most explicit reference to HM Revenue and Customs guidance on the GAAR2
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