HMRC continue to name and shame tax avoidance schemes and those involved in the supply chain

HMRC

HMRC continue to name and shame tax avoidance schemes and has shared another four companies, on their ‘named tax avoidance schemes, promoters, enablers and suppliers’ list and now takes the list to 11 on their website with many more yet to be named. The company names can be found on HMRC’s website under the page for the Current list of named tax avoidance schemes

The 4 new named companies on the HMRC list were found to be using Tax Avoidance Schemes. HMRC found the main theme of the schemes being used is the worker receives two payments, of which the second has not been taxed under PAYE, disguised as a loan or grant. HMRC are looking to clamp down on these so-called Loan/ Grant Schemes as they are missing out on monies owed to HMRC but because they also leave in most cases, the worker, recruiter or end client to pick up the bill, as many of these non-compliant payroll companies will close overnight.

3 of the 4 most recent companies named are now in the process of insolvency.

11 companies named by HMRC

11 Tax Avoidance Schemes Now Named And Shamed

HMRC has now published the details of 11 tax avoidance schemes and their promoters and will continue to add to this list in the coming months. This is not a complete list of all tax avoidance schemes currently being marketed

or a complete list of all promoters, enablers, and suppliers. HMRC recommends steering clear of all avoidance schemes.

HMRC’s Tax Avoidance – Don’t Get Caught Out campaign offers a range of tools to customers to help them steer clear of avoidance schemes, such as the interactive risk checker, payslip guidance, and case studies demonstrating the risks of becoming involved in a tax avoidance scheme and the warning signs customers should look out for.

The only Umbrella you will need to protect your workers

How To Protect Workers, Recruiters And End Clients

The only way to fully protect contractors, recruiters and end clients… is to choose an FCSA Accredited payroll provider who has many checks in place to guarantee that all its partners work within the lines HMRC set out.

To ensure you’re always up to date – visit the government’s website

If you want to check the very latest named and shamed tax avoidance schemes, you can visit the following page on the government’s website: Current list of named tax avoidance schemes, promoters, enablers and suppliers. It will provide all the information you need about each named company and advice if you’ve engaged with one for your payroll.

Conclusion

Remember – first things first – pick a compliant umbrella company like New Red Planet and rest assured you and your tax affairs will be managed correctly and in accordance with all UK Tax and Employment laws.

If you are looking for a reliable, best-in-practice umbrella company that prides itself on its client-focused approach, contact New Red Planet today:

T: 0161 713 1730                                      E: info@newredplanet.com                                    W: www.newredplanet.com

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