Disguised Remuneration Schemes

Have you ever participated in an Employment Benefit Trust, Remuneration Trust or Employment-Financed Retirement Benefits Scheme or similar which may now be viewed by HM Revenue & Customs (HMRC) as a Disguised Remuneration Scheme?

HMRC has focussed on the tax relief or savings claimed on the back of the users of these schemes with a view to making significant recoveries of unpaid tax resulting in decisions and legislation in their favour to tackle their historic use and prevent future use.

We strongly advise that those who have participated in these schemes take advice as soon as possible. Taking swift action is vital: the quicker you act, the stronger your position will be.

Scroll through our sequence to find out more.

If you have received an APN, Follower Notice or have been involved in a DRS as a director, company or employee, time is running out to take advice on the options available.

Working with you, your accountant, recovery professional and/or tax advisor, our team of specialist restructuring professionals and our network of external financers can provide restructuring and/or refinancing solutions for you.

We can:

  • help you understand the settlement terms and negotiate the best settlement with HMRC
  • advise you on how to close the Trust
  • advise directors on how best to deal with a DRS in light of their statutory and fiduciary duties and corporate governance
  • work with tax accountants to calculate the amount payable to HMRC and the terms on which it is repaid
  • advise you on whether you may have any viable claim against your solicitor, accountant, financial adviser or tax advisor if they failed to advise you properly on the risks associated with the DRS
  • advise the Board on issues on the financial implications of a claim being made or anticipated on the trading, strategy and performance of the affected company and its directors and stakeholders
Stacey Jones, Pitmans Law Restructuring & Insolvency Partner

Stacey Jones

Head of Disguised Remuneration Schemes

D +44 (0)118 957 0235
M +44 (0)782 582 7382
E staceyjones@pitmans.com

Suzanne Brooker

Suzanne Brooker

Head of Restructuring and Recovery, Disguised Remuneration Schemes

D +44 (0)118 957 0516
M +44 (0)770 289 4063
E sbrooker@pitmans.com

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