2004 Pre-Budget Report: Crackdown on tax-avoidance schemes relating to employment income

• Author:
• Mark Nichols

As part of the pre-budget report on 2 December 2004, the Chancellor announced a crackdown on tax-avoidance schemes relating to employment income. The Finance Act 2005 will amend the infamous 'Schedule 22 legislation' (as contained in Part 7 of the Income Tax (Earnings and Pensions) Act 2003). The Schedule 22 legislation was introduced in 2003 and relates to employment income paid in the form of shares or other non-cash means.

Earlier this year a new disclosure regime was introduced pursuant ... (506 more words)

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