Tax Credits Ltd (TCL), a company that charged taxpayers significant sums to make claims for tax refunds, can no longer trade as a repayment agent after HMRC found it had committed serious anti-money laundering breaches.
Angela MacDonald, HMRC’s Deputy Chief Executive and Second Permanent Secretary, said:
“TCL have ignored their responsibilities under the anti-money laundering measures designed to protect us all from financial crime.
We will not allow a small number of bad actors to tarnish the reputation of the whole tax agent sector.
It is crucial taxpayers understand the entitlements they can claim directly from HMRC and are properly protected from the misleading tactics used by some repayment agents. The greater protections we’re bringing in will help to stop people unwittingly losing their hard-earned money to misleading agents.”