05 July 2023

HM Revenue and Customs (HMRC) has updated the list of named tax avoidance schemes, promoters, enablers and suppliers.

The below schemes have been added as of 5 July 2023:

  • Vision HR Solutions Ltd - scheme users provide services to end clients through Vision HR Solutions Ltd (a Maltese company) and Vision Human Resource Solutions Ltd (its UK nominee and agent). The users enter into an agreement that grants Vision HR Solutions Ltd (Malta) an option on an annuity agreement. The remuneration for their services is artificially separated into salary and payments said to be in return for the option. The payments said to be in relation to the annuity option are made without the deduction of income tax and National Insurance contributions (NICs)
  • Veqta Ltd - scheme users provide services to end clients through Veqta Ltd (a Maltese company) and its UK nominee and agent. The users enter into an agreement that grants Veqta Ltd (Malta) an option on an annuity agreement. The remuneration for their services is artificially separated into salary and payments said to be in return for the option. The payments said to be in relation to the annuity option are made without the deduction of income tax and NICs.

HMRC has issued a policy paper, briefing information about disguised remuneration avoidance schemes and how people can settle their use of them and/or pay the loan charge that has been introduced to tackle their use. Disguised remuneration schemes are arrangements that pay loans instead of ordinary income to avoid income tax and NICs. The loan charge has been introduced to tackle the use of disguised remuneration schemes. People who anticipate having difficulty paying what they owe under the loan charge will be able to agree a manageable payment plan with HMRC depending on individual circumstances. There is no limit, and people will be given as long as they need to pay what they owe.

The list of tax avoidance schemes subject to a Stop Notice is also accessible, here.

Please note that if a tax avoidance scheme is not shown in the list, this does not mean that the scheme works or is in any way approved by HMRC. You can also report a tax avoidance scheme to HMRC.


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