HMRC names another firm as a tax avoidance promoter
09 June 2022
London-based firm, Peak PAYE Ltd has been named by Her Majesty’s Revenue and Customs (HMRC) as a tax avoidance promoter.
HMRC has advised individuals using the tax avoidance scheme promoted by the firm to withdraw from it. They’re also urged to contact HMRC as soon as possible, to avoid receiving substantial tax bills.
This is the third scheme HMRC has publicly named, using its recently granted new powers to name tax avoidance schemes and their promoters. HMRC intends to add to this list in the coming months, but there’s also a reminder that this isn’t an exhaustive list of all tax avoidance schemes, promoters, enablers and suppliers. HMRC’s advice is to steer clear of all avoidance schemes.
Peak PAYE paid contractors the national minimum wage, subject to tax and National Insurance (NI), but paid the remainder of wages under the guise of a financial option or salary advance to avoid paying tax and NI on those figures.
HMRC is running a Tax Avoidance – Don’t Get Caught Out campaign, which provides a variety of resources for individuals to help them identify the risks of tax avoidance schemes and warning signs to be wary of.
Anyone concerned they’re involved in a tax avoidance scheme should liaise with HMRC as soon as possible. They can do so by calling 03000 534 226.
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