HMRC to close EBT settlement initiative

UK taxpayers have until March 2015 to eliminate employee benefit trusts (EBT) from their tax planning. However, the warning does not apply to every company that has used the technique, advisers say. A settlement initiative for employers who used Employee Benefit Trusts (EBT), as a tax avoidance vehicle will close in seven months’ time, HM Revenue and Customs (HMRC) has announced.