Amounts delivered through avoidance scheme taxed as bonuses, applying PA Holdings (First-tier Tribunal) | Practical Law

Amounts delivered through avoidance scheme taxed as bonuses, applying PA Holdings (First-tier Tribunal) | Practical Law

Tax and NICs were due on money subscribed to special purpose companies by a hedge fund manager, mostly meant to fund dividends on shares assigned to directors of the manager, although in fact received by them as liquidation proceeds (Sloane Robinson Investment Services Ltd v HMRC [2012] UKFTT 451 (TC)).

Amounts delivered through avoidance scheme taxed as bonuses, applying PA Holdings (First-tier Tribunal)

by PLC Share Schemes & Incentives
Published on 24 Jul 2012 • United Kingdom
Tax and NICs were due on money subscribed to special purpose companies by a hedge fund manager, mostly meant to fund dividends on shares assigned to directors of the manager, although in fact received by them as liquidation proceeds (Sloane Robinson Investment Services Ltd v HMRC [2012] UKFTT 451 (TC)).