On 24 July 2014 HMRC announced a settlement opportunity relevant to around 16,000 taxpayers.
The settlement opportunity is targeted at strategies described by HMRC as involving individuals signing a contract of employment with an offshore employer. Remuneration from contracts in the UK is then provided to the employee in the form of non-taxable loans.
The offer is for the tax years up to 5 April 2011 and is open until 9 January 2015. To read HMRC’s announcement of the settlement offer click here
For more detail on the settlement offer click here