If you're reading this - don't disclose !

[BAXENDALE WALKER LLP]

from Chapter 10 LAW AND TAXATION OF REMUNERATION TRUSTS [2ND EDITION] 2011 by Paul Baxendale-Walker.

In correspondence with the Author, HMRC has accepted that it does not require disclosure of Remuneration Trusts pursuant to the disclosure regime. Indeed, it would be somewhat inconsistent for HMRC to claim that it needed disclosure of Remuneration Trust information in view of its detailed litigation of Dextra and Sempra, the legislation it introduced in the wake of Dextra, the introduction of Part 7A ITEPA 2003, and not least the 1st (1997) and 2nd Editions of this book. HMRC now expressly accepts the reality of the situation (http://www.hmrc.gov.uk/avoidance/the-hallmarks.pdf):

“Schemes that promoters know to be known to HMRC are not caught by the hallmark. These can be evidenced from, for example, technical guidance notes, case law, or past correspondence with a case officer in HMRC where the detail of how the scheme works has been made clear.”

[SovCorp]

Very useful point and extremely helpful against the competition.

[HarrietLog]

(10-24-2011 07:55 PM)BAXENDALE WALKER LLP Wrote:  from Chapter 10 LAW AND TAXATION OF REMUNERATION TRUSTS [2ND EDITION] 2011 by Paul Baxendale-Walker.

In correspondence with the Author, HMRC has accepted that it does not require disclosure of Remuneration Trusts pursuant to the disclosure regime. Indeed, it would be somewhat inconsistent for HMRC to claim that it needed disclosure of Remuneration Trust information in view of its detailed litigation of Dextra and Sempra, the legislation it introduced in the wake of Dextra, the introduction of Part 7A ITEPA 2003, and not least the 1st (1997) and 2nd Editions of this book. HMRC now expressly accepts the reality of the situation (http://www.hmrc.gov.uk/avoidance/the-hallmarks.pdf):

“Schemes that promoters know to be known to HMRC are not caught by the hallmark. These can be evidenced from, for example, technical guidance notes, case law, or past correspondence with a case officer in HMRC where the detail of how the scheme works has been made clear.”

can we check that the link to HMRC is correct as it says page doesn't exist.

[BAXENDALE WALKER LLP]

(03-09-2013 01:26 AM)blacklizard1964 Wrote:  

(10-24-2011 07:55 PM)BAXENDALE WALKER LLP Wrote:  from Chapter 10 LAW AND TAXATION OF REMUNERATION TRUSTS [2ND EDITION] 2011 by Paul Baxendale-Walker.

In correspondence with the Author, HMRC has accepted that it does not require disclosure of Remuneration Trusts pursuant to the disclosure regime. Indeed, it would be somewhat inconsistent for HMRC to claim that it needed disclosure of Remuneration Trust information in view of its detailed litigation of Dextra and Sempra, the legislation it introduced in the wake of Dextra, the introduction of Part 7A ITEPA 2003, and not least the 1st (1997) and 2nd Editions of this book. HMRC now expressly accepts the reality of the situation (http://www.hmrc.gov.uk/avoidance/the-hallmarks.pdf):

“Schemes that promoters know to be known to HMRC are not caught by the hallmark. These can be evidenced from, for example, technical guidance notes, case law, or past correspondence with a case officer in HMRC where the detail of how the scheme works has been made clear.”

can we check that the link to HMRC is correct as it says page doesn't exist.

It did when posted. Presumbaly HMRC have in some embarrassment removed it