EBTs

HMRC have set a closing date of the tax ‘amnesty’ relating to employee benefit trusts (EBTs).

Employers who used an EBT to avoid tax before 6 April 2011 must notify the department by 31 March 2015 that they wish to take advantage of the beneficial terms of the settlement opportunity to resolve PAYE and National Insurance liabilities.

All amounts due are due by 31 July 2015 unless the employer has in place a signed time-to-pay agreement.

What next for HMRC following their loss in the Glasgow Rangers case?