Company's liability to promoter meaning

In this issue: Budget and Finance Bills VAT Anti-avoidance Taxes management and litigation Pensions tax International Key developments Daily and weekly news alerts New and updated content Latest Q&A Dates for your diary Trackers Useful information Budget and Finance Bills Autumn Budget 2025 Chancellor Rachel Reeves is set to present the Budget on Wednesday 26 November 2025. As ever, we will produce overnight analysis of the principal business tax measures, to be published on the morning of Thursday 27 November 2025... Law Society joins professional services leaders opposing LLP tax proposals The Law Society of England and Wales has teamed up with figures from the wider professional services community to write to Chancellor Rachel Reeves, challenging plans to raise taxes on limited liability partnerships (LLPs). Their joint letter—endorsed by representatives from bodies such as the Institute of Chartered Accountants in England and Wales, the City of London...

O’Brien v HMRC [2026] UKFTT 127 (TC) In RFC 2012 plc (formerly the Rangers Football Club plc) v Advocate General for Scotland [2017] UKSC 45, the Supreme Court decided that a liability to income tax on earnings arises where an employee’s pay is directed to another person with the employee’s consent or passive agreement. A host of later rulings have adopted this redirection doctrine; see, for example, Sheth v HMRC [2023] UKFTT 368 (TC). In this matter, the FTT found that the doctrine extended to monies paid into a contractor loan arrangement. Under that arrangement, the taxpayer, a contractor, became an employee of a company in the Isle of Man. The company entered into contracts with, and issued invoices to, the taxpayer’s clients, paying the taxpayer a modest wage and placing the remainder of his remuneration into an EBT. The EBT applied those funds to provide the taxpayer with interest-free loans that were unlikely ever to be repaid. The company deducted income tax and NICs from the wage but...