09 December 2010
The draft clauses also meet another of the requirements of the new approach: predictability. The draft clauses largely bring together measures previously announced or which are the culmination of ongoing consultation. Again to be welcomed.
Perhaps the main new announcements, but certainly no surprise, are the measures targeting tax avoidance by way of “disguised remuneration”, as described in the draft clauses but more easily recognised as the use of Employee Benefit Trusts and Employer Financed Retirement Benefit Schemes in remuneration planning. The changes here together with a summary of the other draft clauses are detailed below:
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