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£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.

£1.5m second-hand bond scheme breaks tax rules
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second-hand bond scheme

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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