Tackling tax avoidance: Spotlights
19 February 2019
'Spotlights' warns you about certain tax avoidance schemes which HMRC thinks you should be aware of.
Tax avoidance schemes currently in the spotlight
One of the latest additions to ‘spotlights’ is regarding a scheme where users are being told HMRC will demand a deed of release before agreeing a settlement of disguised remuneration liabilities.
Full details have been published through the link below:
Disguised remuneration: contractor loans settlements and obtaining a deed of release (Spotlight 48)
About spotlights:
Guidance includes some of the schemes that HMRC has:
- identified as having the features of tax avoidance
- started investigating
If you use an avoidance scheme, HMRC will:
- open an enquiry into your tax affairs
- seek full payment of any tax due, plus interest
- charge penalties where appropriate
Together with HMRC’s guidance on what tax avoidance is, spotlights aim to warn you against using tax avoidance schemes.
Recent publications include:
- Attempts to avoid an Income Tax charge when a company is wound up (Spotlight 47) - 4 February 2019
- Rewarding employees and contractors using contrived loan arrangements (Spotlight 46) - 16 January 2019
- Umbrella companies offering to increase your take home pay (Spotlight 45) - 12 September 2018