Provision of employment income in form of forfeitable loan note ineffective to avoid tax (First-tier Tribunal) | Practical Law

Provision of employment income in form of forfeitable loan note ineffective to avoid tax (First-tier Tribunal) | Practical Law

The First-tier Tribunal has ruled that a structure intended to avoid tax on employment income through the issue of forfeitable loan notes was ineffective. (Cyclops Electronics Limited and Graceland Fixing Ltd v HMRC [2016] UKFTT 487 (TC).)

Provision of employment income in form of forfeitable loan note ineffective to avoid tax (First-tier Tribunal)

by Practical Law Share Schemes & Incentives
Published on 22 Jul 2016 • United Kingdom
The First-tier Tribunal has ruled that a structure intended to avoid tax on employment income through the issue of forfeitable loan notes was ineffective. (Cyclops Electronics Limited and Graceland Fixing Ltd v HMRC [2016] UKFTT 487 (TC).)