Tax avoidance: firm fined £150,000
28 March 2022
AML Tax Ltd (Incorporated 2009) which forms a part of Doug Barrownman’s Knox group, has been fined £150,000 as they failed to provide information to HM Revenue and Customs (HMRC). HMRC sent formal requests for records required as part of a tax investigation, which are estimated to enable calculations of more than £3 million tax underpayments.
The tribunal said in the ruling that the company director, chartered accountant and chartered tax adviser Arthur Lancaster was ‘evasive’ and that his statements were ‘incorrect and littered with inconsistencies’. The company’s financial records will now be examined to assess their corporation tax bill.
HMRC carefully monitors schemes that use novel ways to avoid the tax and NICs liabilities on income. Those that it deems unsuccessful (not legally effective) it terms ‘disguised remuneration schemes’ and it takes action to reduce their use, including charging scheme participants for the outstanding liabilities.
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