The following Tax practice note Produced in partnership with Karen Cooper of Cooper Cavendish provides comprehensive and up to date legal information covering:
HMRC has, for many years, sought to ensure that the rewards gained from employment are properly subject to income tax and National Insurance contributions (NICs) deducted by employers through the pay as you earn (PAYE) system.
The disguised remuneration legislation, introduced in Finance Act 2011, was a warning to employers and promoters of tax avoidance schemes that the use of employee benefit trusts (EBTs) and other contrived remuneration structures to avoid, defer or reduce income tax liabilities would be strongly challenged. Publication of the draft legislation in December 2010 was met with extensive criticism in light of its wide-ranging nature and its potential for catching innocent arrangements that did not involve tax avoidance. Following a series of amendments to the draft rules, ITEPA 2003, Pt 7A was enacted which targeted the provision of loans and other forms of benefits by third parties, as well as certain arrangements which provide pension rights in excess of the annual and lifetime allowances applicable to registered pension schemes.
Guidance is contained in the Employment Income Manual starting at EIM45000.
The government confirmed at Budget 2016 that a further package of measures was to be introduced to tackle the ongoing use of disguised remuneration (DR) avoidance schemes. These were the subject of a technical consultation (which was launched on 10 August 2016 and closed on 5 October 2016) and have been introduced
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Voluntary manslaughterVoluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element for murder) but which are reduced to manslaughter because of one of the three special defences (loss of control, diminished responsibility or suicide
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
Brexit: The UK's departure from the EU on exit day ie Friday 31 January 2020 has implications for practitioners dealing with provisions in the CPR relevant to cross border matters, including CPR 5.4C (discussed below). For guidance on the impact of Brexit on the CPR, see Cross border
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