HMRC has issued 208 pages of draft guidance on the new disguised remuneration rules. The legislation tackles arrangements that involve third parties and seek to avoid or defer the payment of income tax. The legislation also deals with pension schemes that are not registered. Where third-party arrangements are used to provide a reward or loan in connection with an employee's current, former or future employment, an income tax charge arises. There are detailed exclusions to ensure that arrangements, which are not tax avoidance arrangements, are not caught by the legislation.
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