Edward Waldegrave acted for HMRC in M R Currell Limited v. HMRC [2023] UKFTT 613 (TC), a case concerning a company which contributed £800,000 to an employee benefit trust (an “EBT”) for its employees. The trustee of the EBT then lent the funds to one of the company’s shareholders and directors. The question was whether employment income tax and NIC charges arose as a result. The FTT agreed with HMRC that they did, on the basis (in summary) that the contribution to the EBT constituted a reward for the individual’s work.

The FTT heard the case over three days in April 2023.

The FTT’s decision can be found here.