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Draft regulations on disguised remuneration
HMRC have published draft regulations for comment on disguised remuneration. They are intended to ensure that no ITEPA 2003, Part 7A employment income tax charges occur when the sums and assets that are the subject of a relevant step arise or derive from:
- contributions to a relevant non-UK scheme that received UK tax relief;
- funds transferred from a registered pension scheme to a qualifying recognised overseas pension scheme; or
- a payment by a pension scheme that has been subject to unauthorised payment charges.
