Many (although not all) of HMRC’s proposals on employee benefit trusts and employee ownership trusts will improve the tax rules, writes Matthew Rowbotham (Lewis Silkin).
HMRC’s consultation on the taxation of EOTs and EBTs (see bit.ly/EBTconsultation) was launched on 18 July 2023 with a number of focused proposals and associated requests for comment intended to improve how the existing tax rules work. Most of the consultation is given over to EOTs and indeed the proposals around EOTs are likely to be more far-reaching than the proposals around EBTs. The latter are principally intended to limit the scope of inheritance tax abuses which have come to HMRC’s attention.
EOTs have existed for a decade now offering capital gains tax reliefs for shareholders who sell to an EOT income tax benefits for employees of EOT-controlled companies and various inheritance tax exemptions to smooth the...
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Many (although not all) of HMRC’s proposals on employee benefit trusts and employee ownership trusts will improve the tax rules, writes Matthew Rowbotham (Lewis Silkin).
HMRC’s consultation on the taxation of EOTs and EBTs (see bit.ly/EBTconsultation) was launched on 18 July 2023 with a number of focused proposals and associated requests for comment intended to improve how the existing tax rules work. Most of the consultation is given over to EOTs and indeed the proposals around EOTs are likely to be more far-reaching than the proposals around EBTs. The latter are principally intended to limit the scope of inheritance tax abuses which have come to HMRC’s attention.
EOTs have existed for a decade now offering capital gains tax reliefs for shareholders who sell to an EOT income tax benefits for employees of EOT-controlled companies and various inheritance tax exemptions to smooth the...
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