Taxes Consolidation Act 1997 section 811

Transactions to avoid liability to tax

Section 811 is the general anti-avoidance provision, empowering Revenue to form an opinion that a transaction is a tax avoidance transaction and to make whatever adjustments are necessary to withdraw or deny the resulting tax advantage.

• Applies to transactions commenced on or before 23 October 2014, covering income tax, corporation tax, CGT, VAT, CAT, stamp duty and USC, together with any related interest and penalties.
• Revenue may form an opinion that a transaction is a tax avoidance transaction if it gives rise to a tax advantage and was not undertaken primarily for purposes other than tax avoidance; they must then issue a notice of opinion to each person affected.
• Genuine business transactions undertaken with a view to realising profits, and the legitimate use of tax reliefs (provided neither amounts to a misuse or abuse of the legislation), are excluded from the scope of the provision.
• Once a Revenue opinion becomes final and conclusive (either uncontested or upheld on appeal), Revenue may make all necessary adjustments to undo the tax avoidance, and the normal four-year time limit on assessments does not apply.