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The Rangers case and EBTs

Speed read

The Upper Tribunal decision in the Rangers case (HMRC v Murray Group Holdings and others [2014] UKUT 0292 (TCC)) is another loss for HMRC in its continuing campaign against employee benefit trusts. That decision demonstrates the importance of ensuring that the employee retains no rights to access the funds of an EBT, only the right to obtain loans. This approach sidesteps the application of the Ramsay principle and is more likely to protect the employee from charges to income tax and NIC. It is likely that HMRC will seek to appeal to the Court of Appeal.

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