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In Spotlight 49 HMRC warns of arrangements that claim to avoid the 2019 loan charge on disguised remuneration but that it considers do not work.
These may involve one or more of the following features:
- be marketed from an off-shore location such as Cyprus, Malta or the Isle of Man;
- claim that by entering the scheme, the disguised remuneration loans are paid off;
- claim that the scheme is not disclosable under the disclosure of tax avoidance schemes regime, and may have benefited from a QC opinion; and
may have professional marketing material, including a website.
HMRC spotlight 49: tinyurl.com/spotlight49
