HMRC spotlight guidance: umbrella company tax avoidance schemes
26 August 2022
Her Majesty’s Revenue and Customs (HMRC) has published a guidance page collating information and links relating to umbrella company tax avoidance.
While the guidance is aimed at agency workers and contractors, it can be useful to understand how these processes work if you have any involvement with umbrella companies. Being able to spot, and report, any suspicious activity is key to remaining compliant and not finding yourself in the middle of a tax avoidance investigation.
The areas covered in the guidance are:
- What we publish about tax avoidance schemes and those promoting them
- How these arrangements claim to work
- When you could be at risk of being involved in tax avoidance
- Why these arrangements do not work
- Repaying a disguised remuneration loan to a third party
- Get advice if you are worried about using these types of schemes
- Get more information or report a scheme and an umbrella company
- Paying your tax
This continues HMRC’s work as part of their Tax Avoidance – don’t get caught out campaign. This spotlight guidance highlights the importance HMRC is currently putting on tax avoidance schemes.
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.