HMRC has published a new addition to its anti-avoidance spotlight series, covering avoidance schemes that use remuneration trusts to reduce profits and disguise income. Spotlight 61 highlights a disguised remuneration scheme defeated by the First-tier Tribunal in three recent cases. In each of those cases, the FTT agreed with HMRC that the arrangements were designed to artificially reduce company profits and to disguise income of various individuals who held one or more positions of director, employee or shareholder. The three FTT cases were: Marlborough DP Ltd, Strategic Branding Ltd, and CIA Insurance Services Ltd.
HMRC has published a new addition to its anti-avoidance spotlight series, covering avoidance schemes that use remuneration trusts to reduce profits and disguise income. Spotlight 61 highlights a disguised remuneration scheme defeated by the First-tier Tribunal in three recent cases. In each of those cases, the FTT agreed with HMRC that the arrangements were designed to artificially reduce company profits and to disguise income of various individuals who held one or more positions of director, employee or shareholder. The three FTT cases were: Marlborough DP Ltd, Strategic Branding Ltd, and CIA Insurance Services Ltd.
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