HMRC have provided an opportunity for individuals who have previously participated in disguised remuneration tax avoidance schemes. The settlement opportunity is for individuals that have taken part in Contractor Loan Schemes, EBT’s or EFRB’s. The scheme will let participators settle on relatively favourable terms should they register an interest in the scheme. The deadline is set at 31 May 2018.
Those registering will not be committed to the scheme but will have until 30 September 2018 to supply HMRC with the relevant documents to calculate the amount of tax and NIC that should be paid.
Details of the Settlement Terms can be found here.
Anthony Middleton is responsible for monitoring all of Ormerod Rutter’s tax investigations and deals specifically with Corporation Tax and Income Tax enquiries. He has been a member of the team for 13 years.