Loans from trusts
HMRC is looking at any remaining loans provided to employees indirectly, generally from employee benefit trusts or unapproved pension schemes. If the tax liabilities have not already been settled with HMRC there is a backstop date of April 2019 when PAYE will fall due. If the company is unable to meet the liability e.g. because it has been wound up, the liability instead falls on the recipient.
If you think you may be affected by this please do get in touch.
Date: 20th March, 2018
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Mercer & Hole’s Robert Jamieson wins a Lifetime Achievement Award at the Tolley’s Taxation Awards 2018… twitter.com/i/web/status/9…
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