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Spotlight 11 published
HMRC have made another addition to the Spotlights section of their website, which highlights avoidance schemes that the Revenue believes do not work.
The latest is Spotlight 11: Avoiding income tax on pay. The department says it is aware that people who have used employee benefit trusts (EBTs) are being targeted with products designed to shelter funds in current schemes from the effect of planned legislation.
These arrangements rely on the availability of credit for loan repayments made before 6 April 2012.
In HMRC's view while these arrangements do not succeed and, even if they did, HMRC say they would challenge them as delivering remuneration which should have been subject to PAYE from first principles.
