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Disguised Remuneration

You may have heard of certain schemes whereby income payments are described as loans or advances thereby deferring or even avoiding tax on these payments. The Revenue’s view is that these schemes do not work and HMRC have been successfully challenging these arrangements on a case by case basis.  As a result of this the Revenue have issued some guidance about how to deal with the tax consequences of these schemes by notifying interest in settling the tax on these payments which will avoid increased tax. We can guide you through this process if you are in this position – please contact us using the information on our ‘Contact Us’ page.