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Disguised Remunerationa and the Loan Charge: The taxation of income paid through a third party


ISBN13: 9781912386352
Published: September 2020
Publisher: Claritax Books
Country of Publication: UK
Format: Paperback
Price: £85.00



Low stock.

This work explains the practical application of a body of tax legislation that was first enacted in 2011, and that has been amended or re-enacted in most subsequent years. This work is aimed squarely at professional advisers.

The legislation has had a devastating impact on many of the more than 50,000 participators in the schemes, who have ended up much worse off than if they had never entered into the scheme in the first place, even though in reality they often had no choice but to do so if they wanted to accept the remunerative work on offer.

Although formally headed "Employment income provided through third parties", the scope is in reality much wider and can give rise to charges to tax and NIC even if no employment income is received by the employee. The charge also extends to close company directors and even to self-employed contractors. The House of Lords described the legislation as "extremely complex and beyond the scope of most business people to decide whether or not it applies to them". This work is aimed squarely at professional advisers and aims to bring clarity to what Keith Gordon describes in the foreword as a clear contender for the worst legislation ever enacted.

Covers:

  • background to, scope of, and application of the disguised remuneration rules
  • year-by-year development of the legislation since 2011
  • calculation of charges on employees and traders
  • exclusions from those charges
  • avoiding the traps
  • background to, and application of, the 2019 loan charge
  • knock-on effect of that levy

Subjects:
Taxation
Contents:
PART 1 – THE DISGUISED REMUNERATION RULES
1. Introduction and background
2. The “main case”
3. Relevant steps
4. The “close companies” case
5. Exclusions from a DR charge
6. Other pension-related exclusions
7. Other exclusions
8. The charge to income tax imposed by the DR rules
9. Death
10. Reliefs against double taxation
11. Disguised trading income of the self-employed
12. Employer undertakings in relation to retirement benefits
13. Restrictions on income tax and corporation tax reliefs
14. Liabilities to inheritance tax in relation to the use of trusts in DR arrangements
PART 2 – THE 2019 LOAN CHARGE AND ITS AFTERMATH
15. The 2019 loan charge
16. After the loan charge
PART 3 – HMRC POWERS TO CURB DR SCHEMES
17. Other actions by HMRC in response to DR schemes
APPENDICES
Appendix 1 – Other relevant material
Appendix 2 – The disguised remuneration repayment scheme 2020
Table of primary legislation
Table of statutory instruments
Index of cases
General index

Series: Claritax Books

Cryptocurrency and Other Digital Assets: Tax Law and Practice ISBN 9781912386536
To be published June 2022
Claritax Books
£80.00
Taxpayer Safeguards and the Rule of Law 2nd ed ISBN 9781912386512
To be published February 2022
Claritax Books
£85.00
Tax Appeals: Law and Practice at the FTT 5th ed ISBN 9781912386604
To be published February 2022
Claritax Books
£85.00
Discovery Assessments: How to Challenge Them 3rd ed ISBN 9781912386598
Published January 2022
Claritax Books
£85.00
Construction Industry Scheme: Guidance and Commentary 3rd ed ISBN 9781912386451
Published November 2021
Claritax Books
£80.00
Personal Representatives: A Guide for Tax Practitioners 2nd ed ISBN 9781912386413
Published August 2021
Claritax Books
£85.00
Schedule 36 Notices - HMRC information requests ISBN 9781912386499
Published July 2021
Claritax Books
£85.00
Capital Allowances 2021-22 ISBN 9781912386376
Published May 2021
Claritax Books
£95.00
Inheritance Tax: Lifetime Transfers and the Death Estate ISBN 9781912386345
Published October 2020
Claritax Books
£95.00
Pension Tax Guide 2020-21 ISBN 9781912386369
Published August 2020
Claritax Books
Out of print
Financial Planning with Trusts 2020-21 ISBN 9781912386338
Published August 2020
Claritax Books
Out of print
Out of print
Furnished Holiday Lettings: A Tax Guide 4th ed ISBN 9781912386222
Published June 2020
Claritax Books
£70.00
Taxation of Partnerships ISBN 9781912386314
Published June 2020
Claritax Books
£85.00
Main Residence Relief 3rd ed ISBN 9781912386239
Published April 2020
Claritax Books
£80.00
Capital Allowances 2020-21 ISBN 9781912386284
Published April 2020
Claritax Books
Out of print
A-Z of Plant & Machinery 2020-21 ISBN 9781912386277
Published April 2020
Claritax Books
Out of print
Living and Working Abroad ISBN 9781912386260
Published February 2020
Claritax Books
£50.00
Property Investment: A Tax Guide ISBN 9781908545749
Published October 2019
Claritax Books
£95.00
Tax Appeals: Law and Practice at the FTT 4th ed ISBN 9781908545879
Published June 2019
Claritax Books
Out of print
Capital Allowances: 2019-20 ISBN 9781912386192
Published May 2019
Claritax Books
Out of print
A-Z of Plant & Machinery 2019-20 ISBN 9781912386215
Published May 2019
Claritax Books
Out of print
£80.00
Out of print
Personal Representatives: A Guide for Tax Practitioners ISBN 9781912386116
Published March 2019
Claritax Books
Out of print
Stamp Duty Land Tax: A Practical Guide 6th ed ISBN 9781912386178
Published March 2019
Claritax Books
Out of print
Discovery Assessments: How to Challenge Them 2nd ed ISBN 9781912386161
Published February 2019
Claritax Books
Out of print
Managing Risk: A Guide for Accountants and Tax Advisers ISBN 9781912386130
Published February 2019
Claritax Books
£40.00
Employment Status: A Tax Guide 4th ed ISBN 9781912386024
Published January 2019
Claritax Books
£85.00
Employee Share Schemes: Equity Reward for Private Companies ISBN 9781912386031
Published July 2018
Claritax Books
£85.00
Financial Planning with Trusts 2018-19 ISBN 9781912386109
Published July 2018
Claritax Books
Out of print
A-Z of Plant & Machinery 2018-19 ISBN 9781912386062
Published July 2018
Claritax Books
Out of print
Capital Allowances: 2018-19 ISBN 9781912386055
Published July 2018
Claritax Books
Out of print
Enterprise Investment Scheme and Other Venture Capital Reliefs ISBN 9781912386048
Published May 2018
Claritax Books
£70.00
VAT Registration: Unravelling the Complexities 2nd ed ISBN 9781912386000
Published February 2018
Claritax Books
£60.00
Construction Industry Scheme: Guidance and Commentary 2nd ed ISBN 9781908545954
Published November 2017
Claritax Books
Out of print
Furnished Holiday Lettings: A Tax Guide 3rd ed ISBN 9781908545732
Published June 2017
Claritax Books
Out of print
Residence: The Definition in Practice 3rd ed ISBN 9781908545817
Published January 2016
Claritax Books
Out of print
Research and Development: Maximising the Tax Relief ISBN 9781908545619
Published December 2014
Claritax Books
Out of print
Tax Chamber Hearings: A User's Guide 3rd ed ISBN 9781908545527
Published April 2014
Claritax Books
Out of print
PAYE: A Practical Guide 2012-13 ISBN 9781908545176
Published October 2012
Claritax Books
Out of print
Capital Allowances for Fixtures: 2012-13 ISBN 9781908545152
Published April 2012
Claritax Books
Out of print