HMRC has again updated their ‘named tax avoidance schemes, promoters, enablers and suppliers’ list.
All five of the latest batch, are businesses based in the Isle of Man who have avoided paying Income Tax and National Insurance through shady loan agreements. These companies are:
HMRC has now published the details of 47 tax avoidance schemes and their promoters. 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. Be advised, companies only stay on this list for 12 months.
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.