HMRC has published a note outlining a ‘highly contrived’ new tax avoidance scheme it intends to challenge, which attempts to convert employment income into a capital gain eligible for entrepreneurs’ relief. The scheme involves individuals selling the beneficial ownership of their company to, and taking up employment with, entities based in Cyprus. See www.bit.ly/2ciEG68.
HMRC has published a note outlining a ‘highly contrived’ new tax avoidance scheme it intends to challenge, which attempts to convert employment income into a capital gain eligible for entrepreneurs’ relief. The scheme involves individuals selling the beneficial ownership of their company to, and taking up employment with, entities based in Cyprus. See www.bit.ly/2ciEG68.
