HMRC Spotlight Warns Against Tax Avoidance From Unfunded Pensions

HMRC has issued Spotlight 58 which warns against tax avoidance involving unfunded pensions.  The arrangements involve a company creating an unfunded pension obligation to pay one or more of their directors a pension.  This is to create an expense in the company accounts to reduce the company’s profit, and therefore reduce the amount of corporation tax […]

HMRC warns against schemes that sells future business revenues to a revenue service trust

HMRC has warned against participating in an arrangement which involves selling future business revenues to a revenue service trust.  Basically, this is another mechanism of disguising your remuneration as something else, and you can read more about this type of scheme here. Under the agreement the trust becomes entitled to a percentage of the business’s […]