EBTs and Requirement to Correct

HMRC is including trusts such as Employee Benefit Trusts (EBTs) within the Requirement to Correct legislation. If you have put in place tax planning arrangements which use trusts then you need to be aware a deadline is looming.

Disguised Remuneration HMRC update

HMRC has written to tax agents to update them on payment terms for settlement of disguised remuneration avoidance cases ahead of the loan charge which arises in April 2019.

Avoiding the 2019 loan charge

HMRC has been contacting accountants and tax agents to let them know that it has become aware of a number of arrangements being promoted which claim to enable users to escape the 2019 loan charge.

Penalties for partnership follower notices

HMRC has updated its guidance on tax avoidance schemes and the penalties for partnership follower notices. The guidance sets out the penalties HMRC will charge if they have sent a partnership follower notice to the representative partner and they’ve not taken the necessary corrective action on time.

HMRC settlement deadline approaches

Time is running out for users of trust based tax planning arrangements to register their interest in settlement with HMRC. Missing the May 31st deadline may be expensive as it could mean incurring the 2019 loan charge before settlement can be finalised.

Tax abuse and insolvency

HMRC has opened a consultation into exploring ways to tackle those who deliberately abuse the insolvency regime in trying to avoid or evade their tax liabilities, including through the use of phoenix companies.

Declaration of offshore assets and income

HMRC has provided a guide that provides an overview of its view of tax arrangements for offshore assets and income. Here we take a look at their advice and provide our take on their top ten tips.

HMRC spotlight on contractor schemes

HMRC is actively pursuing users and promoters of contractor schemes in an effort to prevent tax avoidance and evasion. They are also using Accelerated Payment Notices (APNs) and Follower Notices to encourage people to reach settlement with HMRC.


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