HMRC releases new Spotlight targeting tax avoidance scheme
HMRC has just released the latest in its "Spotlight" series, highlighting a new tax avoidance scheme which it knows is being marketed by advisers.The scheme in question involves the employer making a
HMRC has just released the latest in its "Spotlight" series, highlighting a new tax avoidance scheme which it knows is being marketed by advisers.
The scheme in question involves the employer making a loan to an employee who is then obliged to use part of the loan in subscribing for shares either nil paid or partly paid. As the loan is not treated as earnings, it is claimed to be free of PAYE and NICs.
Further details of this Spotlight can be found at http://www.hmrc.gov.uk/avoidance/spotlights.htm.
We are currently advising a number of individuals in relation to challenges to tax structuring that have been made by HMRC. If you have participated in any of the following DOTAS schemes:
56363346
20373764
40426176
72070132
75714684
88908075
we would recommend that you obtain legal advice at your earliest convenience. If you would like to discuss this matter, in confidence, with one of our experts in this field, please do not hesitate to call Mark Gearing or Hartley Foster.
The scheme in question involves the employer making a loan to an employee who is then obliged to use part of the loan in subscribing for shares either nil paid or partly paid. As the loan is not treated as earnings, it is claimed to be free of PAYE and NICs.
Further details of this Spotlight can be found at http://www.hmrc.gov.uk/avoidance/spotlights.htm.
We are currently advising a number of individuals in relation to challenges to tax structuring that have been made by HMRC. If you have participated in any of the following DOTAS schemes:
56363346
20373764
40426176
72070132
75714684
88908075
we would recommend that you obtain legal advice at your earliest convenience. If you would like to discuss this matter, in confidence, with one of our experts in this field, please do not hesitate to call Mark Gearing or Hartley Foster.