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This is closest to the correct answer you are going to get. If you go down this route the employer will do one of two things 1. They will agree to it and pay the resulting holiday pay OR 2. They may well claim that the percentage of profits agreed to be paid to you actually incorporated...

This was challenged years ago I think in the 90s by Tetley's Breweries. Accommodation - HMRC used to tax all managers a set rate in the 80s of around £570 per annum as a taxable benefit and had done so for many years and it had been accepted for many years. It was eventually challenged...