Tax tribunal stops director bonus scheme

PAYE and NICs should have been paid on bonuses given to directors through companies which were specially set up just to be liquidated and pay out the cash, a tax tribunal has ruled. 

The decision by the first-tier tribunal (Tower Radio Ltd and Total Property Support Services Ltd v Revenue and Customs, TCO2784) has protected £22m in PAYE and NI, HMRC said.

Tower Radio Ltd and Total Property Support Services Ltd were lead cases at...

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Comments

What a clearly flawed idea    1 thanks

secondhand_22 | | Permalink

Which is why I bin the flyers that come in the post from 'boutique' firms that employ no one with any tax qualifications.  ie they are just sales outfits peddling any ill thought out old s***

 

Ltd/LLP type arrangements are being flyered quite a bit lately.  So last year! :)