Disguised remuneration repayment scheme

HMRC has updated the Disguised remuneration repayment scheme 2020 document to reflect the new terms of the scheme, which include the following:

• applications under the scheme can now be withdrawn at any time (the document no longer refers to the date legal documentation becomes legally binding);
• provisions on the determination process have been reworded and reorganised, with new information on waiver and repayment entitlements;
• various definitions in section 3 have been updated, along with revised provisions on ‘legal documentation and other conditions’ in section 8; and
• clarification that amendments to the scheme will take effect from the date they are published.

HMRC has also introduced new sections into its guidance Apply for a refund or waiver from the disguised remuneration repayment scheme 2020 on who is eligible for a refund, making repayment decisions and other tax implications.