HMRC has published draft guidance as part of its Employment Income Manual. The guidance is based in its proposed amendments to the disguised remuneration legislation in Part 7A, Income Tax (Earnings and Pensions) Act 2003.
The draft guidance includes detail and information on:
Applying the new rules to prevent double taxation The new relevant step for transferring, releasing or writing off a loan The amendment clarifying that a payment of a tax liability in relation to a relevant step is not itself a relevant step. Other further exclusionsThe full guidance can be found here.
