HMRC crackdown on EBTs pays off

HMRC's crackdown on payroll tax avoidance and employee benefits trusts (EBTs) by the UK’s biggest companies has helped HMRC to double tax receipts from payroll schemes trying to avoid tax.

Figures from law firm Pinsent Masons show that HMRC investigations into payroll irregularities by the UK’s 770 largest businesses made £533m in extra tax, compared to £205m in the previous year.

An EBT is usually a structure set up by an employer for the benefit of its employees and...

Continued...

» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.

Comments

Scaremongering!!

Cannaryman | | Permalink

If HMRC state they do not recognise Pinsent Masons figures I can see no reason for the article which may well be based on incorrect figures and assumptions.

Also how can Mr McCann state that " If they (taxpayers) do not settle with HMRC they will face direct action and, if HMRC gets its way, far more severe penalties" when clearly this is an unknown.  He is simply scaremongering with the added implication that all EBT schemes will fail.....not necessarily correct!! 

All such articles do is assist HMRC in their pressure tactics to get businesses who have undertaken such planning to pay up without legal justification or case law!!