EBT – HMRC Lose return match to Glasgow Rangers

HMRC have lost their appeal to the Upper Tribunal, in which they argued that loans to employees from sub trusts should constitute earnings, subject to PAYE and National Insurance.

‘Disguised remuneration’ rules now catch these arrangements in respect of EBT loans made post April 2011.

However, HMRC have raised assessments on many EBT Schemes put in place before this date.  We think that HMRC will be forced to rethink their strategy following this result and that consequently they may be more prepared to settle the tax liabilities on favourable terms.

We expect to be in dialogue with HMRC about this shortly.




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