On 20 April 2011 HMRC announced that they are offering employers who have utilised Employee Benefit Trusts (EBTs) and similar arrangements the opportunity to resolve outstanding enquiries without recourse to litigation. According to HMRC’s announcement the intention is to save costs for both taxpayers and HMRC. Dave Hartnett Permanent Secretary for Tax said: ‘This initiative reflects HMRC’s determination to seek to resolve disputes without going to litigation where that can be done without detriment to the Exchequer and within the clear boundaries of the law.’
Taxpayers willing to reach a financial settlement with HMRC will be invited to discuss how this might be achieved. HMRC intend to write to all employers or companies that have open EBT enquiries...
