The Chancellor is set to target executive pensions as part of a crackdown on 'hidden' pay in a Budget aimed at boosting economic growth this week.
George Osborne will target the offshore trusts - dubbed 'efurbs' - saying they are a form of "disguised remuneration", the Times reports. Closing the pensions loophole will mean the trusts will become subject to income tax at up to 50%. The Chancellor will this week deliver a Budget designed to kick-start Britain's flagging economic recovery. Measures expected on Wednesday include: A flat rate for non-doms Plans to merge income tax and national insurance, easing the administrative burden for all companies A bolstering of enterprise investment schemes and venture capital tru...
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