This article was first published by eprivateclient.
On 31 July the latest HMRC Settlement Opportunity came to a
close. This opportunity gave employers who used an EBT before
6 April 2011 the ability to settle any PAYE and national insurance
liability at both employer and employee level on more beneficial
terms than would usually be available. The settlement window
meant the employer must have notified HMRC of their intention to
settle by 31 March 2015, with agreement being reached by 31 July
2015 and all liabilities settled within an agreed timeframe.
If an employer did not take advantage of the Settlement
Opportunity they can still settle by agreement with HMRC.
However, any settlement will not be on such beneficial terms as
during the settlement window. HMRC's decision to close
the settlement window is not unexpected. Since it opened in
2011 over 700 employers have made use of the opportunity that was
instigated as part of HMRC's clampdown on
