Further Details on Disguised Remuneration Proposal
On December 9, 2010 the UK Government published draft legislation aimed at capturing what they described as “disguised remuneration”. These measures were principally intended to capture tax avoidance using, for example: employee trusts, where loans to employees are used to reduce tax on employment income (often known as Family Benefit Trusts (FBTs)) and funded unapproved pension schemes (often known as Employer-Financed Retirement Benefit Schemes (EFRBS)).