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HMRC clampdown on offshore trusts pays off

Accountancy Age

A CRACKDOWN on employers that set up offshore trusts for top earners has started to pay off, helping HM Revenue & Customs more than double its takings from investigations into big companies’ payroll tax avoidance last year. HMRC stepped up its attack on banks and other businesses that paid salaries and bonuses through trusts, ratcheting up an extra compliance bill for the 770 companies in the large business sector by 160% to £533m…

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