Categories:Business Tax,UK

Danger, tax change ahead

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  • If Jolyon Maugham is correct, any attempt to change the arrangements in order to fail one or more of the conditions will risk being classed as tax avoidance. Can that really be right? If so, everyone should give up their reviews now. It is surprising that no-one is concentrating on Condition A: a guaranteed salary is fatal but a fixed share payable out of profits which may have to be repaid if the overall profits are insufficient is not. Most fixed share agreements should be drafted in this form in any event.

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