23 January 2025
HM Revenue and customs (HMRC) has updated the list of named tax avoidance schemes, promoters, enablers and suppliers with one new addition.
The addition, Pinnacle and Partners Limited, paid part of users’ remuneration as salary, subject to tax and National Insurance (NI), and a second payment which they claimed to relate to the growth in value of shares held in another linked company.
HMRC viewed both payments as normal income and should therefore be subject to tax and NI.
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.