New HMRC corporate report summarises how modern tax avoidance schemes operate - FI

New HMRC corporate report summarises how modern tax avoidance schemes operate

Disguised Remuneration, HMRC, Offshore, Tax, Tax AvoidanceLeave a comment

A new corporate report released by HMRC in 2022 features a frequently updated list of named tax avoidance schemes and how they have been helping temporary workers avoid paying their fair share of income tax and National Insurance Contributions. In this article, we’ve summarised the creative ways unethical tax avoidance schemes operate to help you understand the warning signs of a payroll provider that could land you in serious trouble with HMRC. We have also explained how compliant umbrella companies will operate (PAYE) – to help you pick a provider you can trust.

The government introduces new measures to clamp down on promoters of tax avoidance schemes

The government introduce new measures to clamp down on promoters of tax avoidance schemes

Disguised Remuneration, Government, Legislation, Tax Avoidance, Umbrella CompanyLeave a comment

To clamp down further on promoters of tax avoidance, the government is consulting on new draft legislation. Following on from the Promoter Strategy (unveiled in Spring Budget 2020) and existing steps in the Finance Act 2021, a new series of measures will aim to protect public finances by targetting offshore promoters, UK entities and non-compliant umbrella companies. Keep reading to find out more.

Mini umbrella companies make the headlines again as HMRC lose out on millions of tax - FI

Mini umbrella companies make the headlines again as HMRC lose out on millions of tax

Advice, Mini Umbrella Company, Tax Avoidance, Umbrella CompanyLeave a comment

An investigation into mini umbrella companies conducted by BBC Radio 4’s File on 4 found that over 40,000 workers from the Philippines have been sourced to front UK-based umbrella companies to promote tax avoidance. This article looks into mini umbrella companies and explains how they’ve contributed towards millions of lost tax.

HMRC Is Warning Of The Potential Dangers Of Engaging With A Tax Avoidance Scheme FI

HMRC is warning of the potential dangers of engaging with mini umbrella companies (MUC)

HMRC, Mini Umbrella Company, Tax Avoidance, Tax EvasionLeave a comment

HMRC has issued a warning to contractors, agencies and end-clients to avoid mini umbrella companies (MUC) due to the serious risks they pose. By engaging with mini umbrella companies, contractors are able to increase their pay retention. However, not only are they non-compliant, they can damage the lives of the people who use them, and damage the reputation of the entire supply chain.

Disguised remuneration schemes: HMRC is changing its angle of attack, and they may need your help

Advice, Contractor, Disguised Remuneration, Government, HMRC, Loan Schemes, Tax AvoidanceLeave a comment

In an unusual appeal, HMRC has asked for the assistance of organisations and workers in gathering evidence to help tackle unethical disguised remuneration schemes. More precisely, HMRC is looking for stakeholders to help them understand why people are continuing to engage with disguised remuneration schemes, how they can identify new schemes, and where they can take further action to close schemes and reclaim unpaid tax fairly.