HMRC have published the name of five tax avoidance schemes in their updated list of named tax avoidance schemes, promoters, enablers and suppliers.
Three are promoted by AML Tax (UK) Ltd, a company that was fined £150,000 last year for failing to provide HMRC with legally required information as part of a tax investigation.
The three AML schemes are:
- Annuity Arrangements, AML Tax (UK) Limited, 1st Floor, Blackfriars House, Parsonage, Manchester, M3 2JA;
- AML Prefunded EBT, AML Tax (UK) Limited, 1st Floor, Blackfriars House, Parsonage, Manchester, M3 2JA; and
- AML Split Contract, AML Tax (UK) Limited, 1st Floor, Blackfriars House, Parsonage, Manchester, M3 2JA.
The other two schemes are:
- Enhanced Umbrella, Tailored UK Services Ltd, trading as Tailored Resourcing, 67 Grosvenor Street, Mayfair, London, W1K 3JN; and
- Able Ltd / Contractor Central Accounting Ltd – Able Ltd: 2nd Floor, Queen Victoria House, Victoria Street, Douglas, Isle of Man, IM1 2LF / Contractor Central Accounting Ltd: The Axis Building Maingate, Team Valley Trading Estate, Gateshead, England, NE11 0NQ.
All of the schemes seek to disguise remuneration, which HMRC classes as tax avoidance.
https://www.gov.uk/government/news/five-more-tax-avoidance-schemes-named-by-hmrc
Related content from Claritax Books
This detailed, technical book on Disguised Remuneration and the Loan Charge, by tax barrister David Pett, is aimed squarely at professional advisers. The work explains the practical application of a body of tax legislation that was first enacted in 2011, and that has been amended or re-enacted in most subsequent years.
