The Quoted Companies Alliance's Share Schemes Committee examined HM Revenue and Customs controversial draft regulations for inclusion in the Finance Bill 2011 to tackle tax avoidance, which they refer to as 'disguised remuneration'. The Share Schemes Committee responded that the current drafting is a wide and may capture some legitimate employment trusts, which can be useful in the planning and administration of employee share plans. The committee also expressed concern about the costs that smaller quoted companies may have to incur on any interim advice they may have seek while the legislation is being finalised and the general uncertainty around the proposals.
QCA response to HMRC draft legislation on disguised remuneration
The Quoted Companies Alliance's Share Schemes Committee examined in depth HMRC's controversial draft regulations for inclusion in the Finance Bill 2011 on disguised remuneration.
