Failed EBT scheme rewards are recoverable transactions
In Asertis Ltd v Heathcote & Anor [2022] EWHC 2498 (Ch) (10 October 2022) the High Court (HC) held that EBT scheme transactions entered into by a company with the intention of providing remuneration ‘in the most tax-efficient way’ were not later recoverable despite HMRC ultimately concluding that the transactions were taxable as employment income.
Asertis as assignee of Servico Build Tec Limited (‘the company’) brought an action against the first defendant Mr Heathcote who was the company’s sole director at all relevant times until it went into creditors' voluntary liquidation in 2018.
Some years before the liquidation the company had entered into transactions pursuant to an EBT scheme. These transactions which involved the company contracting for gold were designed to allow Mr Heathcote to obtain rewards from the company without tax becoming payable either by the company...
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Failed EBT scheme rewards are recoverable transactions
In Asertis Ltd v Heathcote & Anor [2022] EWHC 2498 (Ch) (10 October 2022) the High Court (HC) held that EBT scheme transactions entered into by a company with the intention of providing remuneration ‘in the most tax-efficient way’ were not later recoverable despite HMRC ultimately concluding that the transactions were taxable as employment income.
Asertis as assignee of Servico Build Tec Limited (‘the company’) brought an action against the first defendant Mr Heathcote who was the company’s sole director at all relevant times until it went into creditors' voluntary liquidation in 2018.
Some years before the liquidation the company had entered into transactions pursuant to an EBT scheme. These transactions which involved the company contracting for gold were designed to allow Mr Heathcote to obtain rewards from the company without tax becoming payable either by the company...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
