HMRC has named five tax avoidance schemes, including three promoted by AML Tax (UK) Limited.
Naming promoters is one of a number of measures that HMRC uses to help people identify and avoid tax avoidance schemes which may face intervention.
Last year AML Tax (UK) Ltd was fined £150,000 for failing to provide HMRC with legally required information as part of a tax investigation.
HMRC says the five schemes all seek to disguise remuneration, something which HMRC classes as tax avoidance.
The three AML linked schemes named 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
- AML Split Contract, AML Tax (UK) Limited, 1st Floor, Blackfriars House, Parsonage, Manchester, M3 2JA
Other schemes named are:
- Enhanced Umbrella, Tailored UK Services Ltd (TUSL), trading as Tailored Resourcing, 67 Grosvenor Street, Mayfair, London, W1K 3JN
- 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 (CCAL): The Axis Building Maingate, Team Valley Trading Estate, Gateshead, England, NE11 0NQ
The three AML schemes make use of complex company structures and directors’ loan accounts to extract profit, providing directors with income where Corporation Tax, Income Tax and National Insurance contributions were not correctly paid, HMRC said.
The other two schemes make one payment to users that is close to National Minimum Wage and then another disguised payment, which the promoters claim is non-taxable and Income Tax and National Insurance are not correctly deducted.
Mary Aiston, HMRC’s director of counter-avoidance, said: “These schemes are cynically marketed as clever ways to pay less tax. The truth is they rarely work in the way the promoters claim and it is the users that end up with big tax bills. HMRC will continue to use all the powers at our disposal to crack-down on promoters.
“Anyone who thinks they may be involved in a tax avoidance scheme, or have been approached by a scheme promoter, should contact us as soon as possible to get help.”
