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Disguised remuneration repayment scheme

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HMRC has updated the Disguised remuneration repayment scheme 2020 document to reflect the new terms of the scheme, which include the following:

  • applications under the scheme can now be withdrawn at any time (the document no longer refers to the date legal documentation becomes legally binding);
  • provisions on the determination process have been reworded and reorganised, with new information on waiver and repayment entitlements;
  • various definitions in section 3 have been updated, along with revised provisions on ‘legal documentation and other conditions’ in section 8; and
  • clarification that amendments to the scheme will take effect from the date they are published.

HMRC has also introduced new sections into its guidance Apply for a refund or waiver from the disguised remuneration repayment scheme 2020 on who is eligible for a refund, making repayment decisions and other tax implications.

Issue: 1509
Categories: News