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Trust issues: examining HMRC’s consultation

Speed read
Employee benefit trusts (EBTs) and employee ownership trusts (EOTs) are common structures implemented by businesses which can be used to incentivise and retain employees. HMRC have launched a consultation on the tax rules which apply to EBTs and EOTs with a view to improving how they work. The proposals are designed to reduce the scope for abuse, clarify areas of ambiguity and refocus the rules in line with stated policy objectives. In addition, HMRC have invited comment on how the rules for EBTs and EOTs work more generally, which is a valuable opportunity for practitioners. The deadline for responses is 25 September 2023.

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