Nigel Holmes (Armstrong Watson) answers questions on the references in the recent Budget to disguised remuneration and their possible impact on EBTs.
Question
The recent Budget contained references to disguised remuneration. Has HMRC arranged for its plans to be contained with the 2011 tax changes? What are the details to accompany the chancellor’s references? And surely these changes will not impact EBTs which predate the 2011 rules?
Answer
The chancellor did indeed refer to disguised remuneration in his Budget speech of 16 March. The detail if you can call it that was to be found in a technical note which can be found at www.bit.ly/1VQOmVm.
The forthcoming changes will affect anyone with outstanding loans from employee benefit trusts (EBTs) and similar trusts...
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Nigel Holmes (Armstrong Watson) answers questions on the references in the recent Budget to disguised remuneration and their possible impact on EBTs.
Question
The recent Budget contained references to disguised remuneration. Has HMRC arranged for its plans to be contained with the 2011 tax changes? What are the details to accompany the chancellor’s references? And surely these changes will not impact EBTs which predate the 2011 rules?
Answer
The chancellor did indeed refer to disguised remuneration in his Budget speech of 16 March. The detail if you can call it that was to be found in a technical note which can be found at www.bit.ly/1VQOmVm.
The forthcoming changes will affect anyone with outstanding loans from employee benefit trusts (EBTs) and similar trusts...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
