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HMRC targets disguised remuneration avoidance schemes

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HMRC has added ‘spotlight 39’ to its targeted list of tax avoidance schemes. This concerns attempts to avoid the new ‘loan charge’ on disguised remuneration loans outstanding on 5 April 2019 by producing documentation to the effect that the sums involved are not loans, but money the taxpayer holds in a ‘fiduciary capacity’. HMRC says the disguised remuneration loan charge will apply to any form of credit, or other right to a payment, regardless of what it’s called.

Issue: 1366
Categories: News