Tax avoidance scheme promoters ‘named and shamed’ by HMRC
12 April 2022
Two schemes have been named in the first time Her Majesty’s Revenue and Customs (HMRC) has used new powers to do so. Similar to government powers that allow the publishing of companies that fail to comply with national minimum wage law, these powers allow HMRC to publicly name tax avoidance promotors.
The schemes, Absolute Outsourcing and Equity Participation Scheme (EPS) appear on the new list with the aim to let taxpayers know so they may stay clear or exit the schemes. Mary Aiston, director of counter avoidance at HMRC, said:
“These schemes are cynically marketed as clever ways to pay less tax. The truth is they rarely work in the way the promoters claim and it’s the users that end up with big tax bills.”
The list will be kept updated with more schemes and promoters, however, the absence of a name on the list does not mean it is approved by HMRC. The press release also highlights the ‘Don’t Get Caught Out’ campaign, seeking to educate taxpayers on how to spot avoidance schemes and what to do if a customer believes they are involved with one.
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