Exiting Remuneration Trusts raise a number of issues that need to be addressed. Finding a tax solution (particularly one that is acceptable!) may have become easier for some with HMRC’s new Settlement Terms recently announced.
Tax avoidance has been around now for 30 years. In all that time, some taxpayers have chosen to settle with HMRC, others have not. Over time, these can become forgotten liabilities.
For those who have not settled, where does this leave us today?
Anyone who has used a tax avoidance scheme that falls under the heading of Disguised Remuneration between 6 April 1999 and 5 April 2016 may now be entitled to EBT refunds. HMRC are refunding PAYE and NIC to companies who have settled on the basis of Voluntary Restitution