Employee Benefit Trusts Targeted

Employee Benefit Trusts (EBT) remain within the spotlight as yet another scheme is closed by a tribunal. It is clear now that these schemes don’t work and HMRC is using its power to shut them all down.
In the past the scheme administrators were re-establishing themselves time and time again but in this latest tribunal the scheme administrator has also been made bankrupt.
The treasury has confirmed on their website that HMRC will always challenge this type of tax planning and the latest tribunal decision sends a clear message to all NOT to get involved.
I feel this is long overdue and about time giving clarity to an uncertain area that is still marketed heavily offering excessive net returns of 90%.

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