.png)
.png)
HMRC seem to have missed the point in relation to inheritance tax and employee benefit trusts, claims RORY MULLAN
KEY POINTS
- The Revenue’s approach in Brief 61/09 is at odds with the legislation.
- Effect of inheritance tax on transfers to employee benefit trusts.
- Restricted participators.
- Deeming a benefit to be earnings.
- Correct guidance is required.
The previous Government announced in Budget press release PN03 that it intended to take action to tackle avoidance through the use of trusts to reward employees. That statement is a reflection of a current hostility to the use of employee benefit trusts.
Nevertheless as much as HMRC have sought to tackle perceived abuses in the MacDonald v Dextra Accessories Ltd [2005] STC 1111 and Sempra Metals Ltd [2008] STC (SCD) 1062 cases as well as the legislation at CTA 2009 s 1288 to
If you or your firm subscribes to Taxation.co.uk, please click the login box below:
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
