£1.5m second-hand bond scheme breaks tax rules
The General Anti-Abuse Rule (GAAR) advisory panel has outlawed a disguised remuneration scheme involving employee rewards linked to a second-hand bond, labelling it as abusive tax avoidance.
From the outset, HMRC was sceptical about the legitimacy of the scheme and the GAAR panel ruled in the tax authority’s favour.
Read more at Accountancy Daily.
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