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EBT Loophole to Close

In the March 2010 budget, the government showed its commitment to putting a stop to tax avoidance schemes by 06th April 2011. A press notice, “Protecting Tax Revenues”, which announced attacks on payroll and offshore "schemes" that exploit tax "loopholes “ was released alongside the Budget statement.

The notice from Her Majesty's Treasury reads as follows: "The government is taking further action to change the game for those seeking to bend or break the rules on tax."

According to the notice, the government says it will take action on trusts and "other vehicles", used to reward employees, where remuneration is not taxed correctly.

Anyone currently using or considering using a scheme that promises “a higher net return” should be wary as HMR&C have successfully applied retrospective tax action following the recent BN66 legal battle. This paves the way for similar retrospective action being applied to any other avoidance schemes that HMR&C set their sights on.

For more information on EBT’s please click the link.

If you would like to discuss moving to ContractorUmbrella please contact one of our expert advisors on 01206 71368 or email us at info@contractorumbrella.com.

Why Choose ContractorUmbrella?

ContractorUmbrella is the hassle-free, straight talking umbrella company that provides umbrella employment for UK based contractors and freelancers. Independently voted as the best umbrella company by the readers of Contractor UK.

As one of the most trusted umbrella companies in the UK, we guarantee our employees peace of mind, absolute compliance and complete security. We are one of the longest standing and most respected umbrella companies in the UK.

Benefits of working through ContractorUmbrella;

  • Fast and easy registration-  be ready to work in 24 hours, simply register online and we’ll take care of the rest.
  • Calculate your take home pay- use our online calculator to find out how much you could be taking home through ContractorUmbrella.
  • Same day payments- we offer same day payments as standard, for no additional fee.
  • Our Commitment Charter- is our guarantee that you will be looked after at every step of the way.
  • Flexible Limited Company accountancy- when you sign up to our sister company Dolan Accountancy, you can transfer to ContractorUmbrella when umbrella employment better suits or your assignment sits inside IR35.
  • Employee Benefits- at ContractorUmbrella there are many benefits available to you as our employee including Childcare Vouchers, our Employee Rewards Scheme, Group Pension Scheme, Foreign Currency Exchange, Contractor Accommodation, Contractor Mortgages and much more.
  • Personal Employee Liaison Officer- we believe in the personal touch, so you will have your very own dedicated Employee Liaison Officer during your employment with us. Read some of the glowing testimonials we've received about our lovely staff and the outstanding commitment they give to all our employees and clients.

If you’d like to find out more, call us on 01206 591 000 or request a call back by completing our online form.