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Disguised remuneration: tax avoidance using unfunded pension arrangements (Spotlight 58)

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HMRC is aware of tax avoidance arrangements used by owner managed companies and their directors. The arrangements are used to reward a director for the services they provide to a company. This is done in a way that seeks to avoid paying Income tax and National Insurance contributions, while obtaining Corporation Tax relief at the same time.
HMRC strongly believes these arrangements do not work. We’ll seek to challenge anyone promoting or using these arrangements and we’ll make sure the correct tax is paid.
The arrangements involve a company creating an unfunded pension obligation to pay one or more of their directors a pension. This is to create an expense in the company accounts to reduce the company’s profit. The intended result of this step is to reduce the amount of Corporation Tax payable. ....

National Insurance , Corporation Tax , Income Tax , General Anti Abuse Rule , Tax Avoidance Schemes , Report Tax Fraud Online , தேசிய காப்பீடு , நிறுவனம் வரி , வருமானம் வரி , ஜநரல் எதிர்ப்பு ஆட்சி , அறிக்கை வரி மோசடி நிகழ்நிலை ,

Disguised remuneration: tax avoidance by selling future business revenues to a revenue service trust (Spotlight 57)

the trust being liable to tax on the income
interest being charged on any tax paid after the statutory due date and penalty charges may occur
Deliberately misleading, or concealing information from HMRC may result in criminal prosecution.
What this means for promoters
HMRC will pursue anyone who promotes or enables this arrangement.
This includes using the Enablers Penalty Regime for anyone who designs, sells or enables the use of abusive tax avoidance arrangements, which are later defeated by HMRC.
This penalty applies where any of these arrangements have been enabled and entered into on or after 16 November 2017.
HMRC will also use its powers under the Promoters of Tax Avoidance Schemes regime against those who persist with promoting tax avoidance schemes. ....

United Kingdom , National Insurance , Corporation Tax , Enablers Penalty Regime , Tax Avoidance Schemes , General Anti Abuse Rule , Report Tax Fraud Online , ஒன்றுபட்டது கிஂக்டம் , தேசிய காப்பீடு , நிறுவனம் வரி , ஜநரல் எதிர்ப்பு ஆட்சி , அறிக்கை வரி மோசடி நிகழ்நிலை ,