Employee benefit trusts – EBTs for short – have taken something of a battering in recent years. The once-ubiquitous vehicle took a drop in popularity following the introduction of the disguised remuneration rules in 2011 after HMRC mounted a series of high profile challenges in court, most notably in the case of Rangers Football Club (which HMRC lost, but is understood to be appealing). So what exactly are EBTs and why have they been so controversial?