HMRC has launched a 'lease premium settlement initiative' which will allow employers who used lease premium arrangements prior to the introduction of anti-avoidance legislation in FA 2009 s 71 to agree a financial settlement with HMRC. Lease premium arrangements were designed to reduce tax and NI liabilities on the provision of living accommodation by an employer to an employee. The arrangements involved the up-front payment of a lease premium followed by low rental payments. HMRC states that the initiative will allow cases to be settled without recourse to the tribunal or courts thus minimising potential costs both to taxpayers and HMRC. The initiative invites employers and employees who were using lease premium arrangements prior to 22 April 2009 to register their interest in reaching a settlement with HMRC by 5.00 pm on Friday 6 August 2010. For...
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HMRC has launched a 'lease premium settlement initiative' which will allow employers who used lease premium arrangements prior to the introduction of anti-avoidance legislation in FA 2009 s 71 to agree a financial settlement with HMRC. Lease premium arrangements were designed to reduce tax and NI liabilities on the provision of living accommodation by an employer to an employee. The arrangements involved the up-front payment of a lease premium followed by low rental payments. HMRC states that the initiative will allow cases to be settled without recourse to the tribunal or courts thus minimising potential costs both to taxpayers and HMRC. The initiative invites employers and employees who were using lease premium arrangements prior to 22 April 2009 to register their interest in reaching a settlement with HMRC by 5.00 pm on Friday 6 August 2010. For...
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