Richard Clarke and Jessica McLellan provide this month's update on recent HMRC activity, including HMRC's extension of their EBT settlement proposal, a refinement in HMRC's approach to the largest partnerships and record keeping requirements for non-residents using the new statutory residence test
EBT proposal extended
HMRC’s settlement initiative for EBTs (see ‘Revenue Watch’ Tax Journal 12 May 2011) is to be extended to other historic remuneration planning.
HMRC are notifying employers that have used certain option arrangements that they too will be brought within the proposal.
Simply put HMRC have been telling companies that made contributions to EBTs that they expect PAYE and NIC on the full amount of these contributions or...
