This consultation document seeks views on proposals for the reform of two anti-avoidance tax law provisions: (1) gains attributed to members of non-resident closely controlled companies, and (2) the transfer of assets abroad.

Comments are sought on a number of proposals including, in particular, new rules designed to ensure that the legislation is compatible with EU provisions. The consultation period will last for 12 weeks ending on 22 October 2012.

By way of background, the consultation emanates from EU Commission infraction notices issued to the UK Government in the form of Reasoned Opinions of 16 February 2011. Having received the notices, the Government considered the issues further and a Written Ministerial Statement on 6 December 2011 announced their intention to consult.

Specific proposals in the consultation are as follows:

• to introduce an avoidance motive test and expand the categories of assets excluded from charge under section 13 TCGA 1992,
• add to the transfer of assets legislation a further exemption test based on objective criteria, and
• make other improvements to the two regimes

The consultation is available from the HMRC website.