TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Tackling disguised remuneration – developments

At Budget 2016, the government announced a package of changes to tackle the historic and continued use of disguised remuneration avoidance schemes. Since then the government has taken further steps. An update from HMRC in this area is outlined.

Technical consultation on further changes – The government published a technical consultation, including draft legislation on 10 August 2016, on the changes being introduced in Finance Bill 2017. The aim of the consultation is to ensure that the final legislation is correctly targeted and effective. HMRC is interested in the views of those who are affected by, or interested in, these changes.

Withdrawal of transitional relief on investment growth – The government is extending the withdrawal of the transitional relief on investment growth from 30 November 2016 to 31 March 2017. More information is available on the recently published Spotlight 31.

HMRC has set out registration requirements for those interested in obtaining the transitional relief before it is withdrawn.

More information on terms of settlement has also been published.

You may also be interested in the new guide on contractor loans which was published on 7 July 2016.

If you think your clients are affected by these changes and you would like to discuss a settlement you should contact HMRC.

If you, or your client, don’t have a contact, and you think your client might have used a disguised remuneration avoidance scheme as an individual or contractor, you should email cl.resolution@hmrc.gsi.gov.uk. If your client is an employer, you should email ca.admin@hmrc.gsi.gov.uk.”