Disguised Remuneration

You may have heard of certain schemes where income payments are described as ‘loans’ or ‘advances’ thereby deferring or even avoiding tax on these payments.

HMRC’s view is that these schemes do not work and they have been successfully challenging these arrangements on a case by case basis.  As a result of this, HMRC have issued some guidance about how to deal with the tax consequences of these schemes. By notifying them of your interest in settling the tax liabilities on these payments, this will avoid further increased tax and hefty penalties and interest.

We can guide you through this process if you are in this position – please contact us using the information on our ‘Contact’ page.