Member Since: 1st Oct 2009
Mark Ward qualified with a large firm in 1989, having previously worked in the tax departments of a small and a medium size firm. He has been lecturing on a wide variety of tax matters for 30 years to qualified practitioners and industry specialists in the UK and overseas.
12th Feb 2015
Check also Finance Act 2014
BKD is correct to cite Apollo Fuels. Do watch however that the case is only effective for years to 5-4-14.
FA'14 introduced provisions to reverse the decision leaving the benefit in kind fully chargeable even where payments are recharged to director's loan account.
What's worse is that with many of these deals there will be no deduction against the value of the benefit for amounts made good by the director.
Far better for the director to sign the deal with the leading company, with guarantee given by the company for the payments