breeze

[speling bee]

No. That would be non-compliant with the complete mess that is ITEPA Part 7A.

I am a simple contractor so apologies but Dextra was an EBT? If there model was different from yours, why quote the case?

[captainham]

I am a simple contractor so apologies but Dextra was an EBT? If there model was different from yours, why quote the case?

: Had to pick you up on that owing to your sig!!!

[moggy]

: Had to pick you up on that owing to your sig!!!

+1

[speling bee]

: Had to pick you up on that owing to your sig!!!

Oh the shame!

[LisaContractorUmbrella]

So Phil, if you are not operating an EBT, which as you say have been outlawed anyway, how is the case law relevant to the scheme that you are operating?

[MrJGrinder]

Interesting

Presentations; Skills & Services, PowerPoint to Public Speaking; Exhibition Stands to Proposals - from ModernSelling.com - A FAULTLESS PRESENTATION EVERY TIME

This article states that Mark Willis was Managing Director at Sunday Solutions

Amazing what a google search can yield

[captainham]

This article states that Mark Willis was Managing Director at Sunday Solutions

Amazing what a google search can yield

Skynet = Google. They gave up sending terminators back in time to kill John Connor and instead just went back in time to submit a company name change instead. Much easier, and we're all still doomed.

[PhilBreeze]

I am a simple contractor so apologies but Dextra was an EBT? If there model was different from yours, why quote the case?

The Dextra trust was an EBT but the ruling that loan payments from trusts are not taxable applies to any discretionary trust.

EBTs are one of many types of discretionary trust.

I've quoted two cases one involving an EBT and the other mainly focusing on an FBT (family benefit trust). These acronyms are used for convenience and have no real legal meaning. In legal terms the type of both trusts is a discretionary trust - the FBT/EBT label refers to who the beneficiaries are.

In our case the trust is a discretionary trust too - but its not an EBT or FBT, in fact it doesnt have its own acronym as such..

The cases I have quoted have relevance as they demonstrate beyond doubt that certain types of payment from a discretionary trust are not subject to income tax or NICs, notwithstanding Part 7A ITEPA.

As I have pointed out in earlier posts this counts for much more than counsel opinion, and also prevents retrospection.

Clear as mud? Its getting technical..

[speling bee]

The Dextra trust was an EBT but the ruling that loan payments from trusts are not taxable applies to any discretionary trust.

In whose opinion?

[PhilBreeze]

In whose opinion?

Dr Nuala Brice, OBE & Edward Sadler - Special Commissioners for HMRC:


"We conclude that when the Appellant made payments to the trusts, no transfer of cash or its equivalent was placed unreservedly at the disposal of the employees. That means that there was no payment by the Appellant of emoluments or earnings giving rise to an obligation to deduct income tax and pay it to the Revenue."