Wills & Trusts Law Reports | Autumn 2017 #169The appeal concerned a tax avoidance scheme by which employers paid remuneration to their employees through an employees’ remuneration trust in the hope that the scheme would avoid liability to income tax and Class 1 national insurance contributions. The question on appeal was whether an employee’s remuneration was taxable as their emoluments or earnings when it was paid to a third party in circumstances in which the employee had no prior entitlement to receive it himself or herself.
The employing companies, including RFC, operated the tax avoidance scheme in the tax years between...
The current state of play with HMRC v Murray Group Holdings has lessons for lax trustees. Catharine Bell and Nicole Aubin-Parvu provide an update ‘HMRC argued that where an employee was given practical access to or control of monies it mattered not that he did not have absolute legal title to them.’The unsuccessful appeal by …
Continue reading "Trust Management: Extra time and possible penalties?"
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Catharine Bell and Nicole Aubin-Parvu review a case that highlights the importance for trustees of impartiality and independence when handling EBTs ‘There was, in fact, evidence to suggest that the trust was intended to be operated in breach of trust and that the scheme required such breach to achieve its purpose.’ The decision of the …
Continue reading "Trustees: A red card?"
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Deborah Clark and Matthew Short give an update on HMRC’s stance on tax and employee benefit trusts ‘In an attempt to avoid the delaying effect of the CTA 2009 provisions, family benefit trusts have been created that specifically exclude employees but include their families.’This article comments on HMRC’s Brief 18/11, which gives its views on …
Continue reading "Employee Benefit Trusts: 18/11 overture"
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