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Markel Tax

27 Nov 2017

Autumn Budget 2017: Disguised remuneration – a further update

A package of proposals were announced at Budget 2016 to tackle existing and prevent future use of disguised remuneration avoidance schemes. New legislation will finalise the measures announced in Budget 2016.

The new legislation will make it clear that the existing legislation at part 7A ITEPA 2003 applies to schemes implemented by the owners of close companies. It introduces an obligation on employees to report where they have received payments from loan schemes and creates a charge to tax the loan charge for the employee where the employer is based offshore

All users of disguised remuneration schemes will need to be aware of the changes to the legislation and consider the impact on them.

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27 Nov 2017

Autumn Budget 2017: Intangible fixed assets – related party step-up schemes