A new settlement opportunity has been announced by HM Revenue & Customs. This applies to users of tax planning arrangements falling within the disguised remuneration rules – typically Employee Benefit Trusts (EBTs) and Employer Financed Retirement Benefit Schemes (EFRBS).
A settlement will allow the taxpayer to close the structure down and pay all of the tax due to HMRC which may offer peace of mind for directors and company shareholders. The opportunity runs until April 2019 when previously announced tax charges will likely apply in any case.
Our advice is for any companies with historic planning such as an EBT or EFRBS to explore the settlement opportunity available and properly consider whether a settlement in advance of April 2019 should be sought.
If you would like assistance, or to discuss, please contact –
Michelle Andrews (Rugby) on 01788 539000 or Jon Kicks (Leicester) on 0116 261 0061