Other ‘small print’ items of interest to those involved with DR/EBT settlements are:
- Extending offshore time limits – Assessment time limits for non-deliberate offshore tax non-compliance will be extended so that HMRC can always assess at least 12 years of back taxes without needing to establish deliberate non-compliance, following a consultation in spring 2018; and
- the government will also legislate in ‘Finance Bill 2017-18’ to put beyond doubt, with effect from 22 November 2017, that Part 7A of Income Tax (Earnings and Pensions) Act 2003 applies regardless of whether contributions to disguised remuneration avoidance schemes should previously have been taxed as employment income [per the Rangers’ decision] – this change will have effect on and after 22 November 2017.
David Pett, Tax Barrister 