January 26, 2011
Where you have taken advantage of a tax scheme to receive virtually tax-free loans or assets through employee benefit trust (EBT) in place of taxed salary, you may find the supplier of this scheme suddenly backs-out. This is because new a tax charge on disguised remuneration is coming into effect in April 2011. In addition, loans made or assets provided since 9 December 2010 may be caught by the new tax charge. Speak to us to sort out any tax pickle you find yourself in.
Draft legislation and notes on ‘disguised remuneration’