Warning on disguised remuneration
HMRC has recently warned tax agents and accountant who promote tax and National Insurance avoidance schemes in respect of ''rewards for work carried out for a UK-based employer". It is practice amongst such as agents and tax advisors and agents to route rewards to employees through a variety of different entities such as trusts, lenders or retirement benefit schemes.
HMRC has taken the view that such routing is not capable of avoiding the application of disguised remuneration rules in the new Part 7A of the Income Tax Act 2003.
At CBSL we do not offer such schemes, but are able to advise on a range of tax planning strategies. Call us know for a FREE tax planning meeting with a member of our tax team.
