Responding to concerns raised during consultation around its crackdown on what it calls “disguised remuneration”, the government has amended draft legislation to soften the impact on employers and individuals who are not deemed to be using arrangements for avoidance purposes.
Following concerns raised that the draft legislation was too widely drawn and that it might catch innocent employee benefit trust (EBT) and employer-financed retirement benefit schemes (EFRBS), the government has adjusted the provisions to protect benefits provided by group companies, share incentive arrangements and genuine deferred remuneration arrangements.
As set out in the Disguised Remuneration information note, the new Part 7A of ITEPA will target trusts and other int...
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.