HMRC EBT nudge letters
HMRC is now issuing “nudge” letters to users of EBTs, reminding them of the closure of the EBT Settlement Opportunity. The settlement terms are such that, for most businesses, settlement under these terms would result in a lower tax and NIC liability than would be due if HMRC succeed through the courts on the application of PAYE.
Those who choose not to settle under these terms will still need to agree their position. Meanwhile HMRC has indicated that it will be issuing accelerated payment notices to all known users of DoTAS registered EBTs and EFRBS currently under enquiry shortly after the March 2015 settlement deadline.
The problem is that tax will have to be paid in advance of litigation through the courts.
A copy of HMRC’s letter is attached. The decision on whether or not to settle is not easy and if you want to discuss your options, please call.
Date: 14th January, 2015
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