November 19th, 2019 / Insight posted in MKS News

FT: Tim Stovold on City financier tax fiddle involving wife

A former high-ranking employee in The City avoided paying income tax by transferring a substantial portion of his pay to his wife. Partner Tim Stovold comments that the action itself is not uncommon but the amount does need to be ‘reasonable’ in the eyes of HMRC. In this case it wasn’t, as she became the highest paid employee on the books.

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