Some interesting news on tax avoidance
HMRC has again failed in its attempt to charge PAYE on the Rangers’ EBT.
The Upper Tier Tribunal confirmed the decision in the First Tier Tribunal (“FTT”) that:
- No PAYE/NICs was due on payments into the EBT
- No PAYE/NICs was due on loans made by the EBT
This is (yet another) defeat for HMRC on this issue.
Just to remind you - HMRC had raised assessments for over £40m for PAYE/NICs. Rangers appealed against these assessments, HMRC resisted and the rest is history
Whilst it is difficult to see what grounds HMRC may have for an appeal, there may well be one – watch this space.
You have to wonder though – how often does it happen that HMRC changes the course of sporting history…..
Date: 11th July, 2014
Articles from this Author
20th July, 2017
Uncertain times for winding up transactions
3rd July, 2017
9th June, 2017
27th April, 2017
Government places Making Tax Digital legislation on hold
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole