Directors of a tax avoidance promoters named for the first time

HMRC uses new powers to publicly name the directors of tax avoidance promoting companies. Tax avoidance bosses have been named for the first time in the latest move to help protect the public. HM Revenue and Customs (HMRC) has used new powers to publicly name directors of tax avoidance promoting companies, with customers being warned … Continue reading Directors of a tax avoidance promoters named for the first time

Share your views about repayment agents

The government is keen to ensure that taxpayers pay the right amount of tax, and, where they are entitled to a refund, can access this easily. They are aware that some taxpayers face issues and feel misled when using agents that specialise in claiming tax refunds from HMRC. Repayment agents can provide a useful service … Continue reading Share your views about repayment agents

More tax avoidance schemes named

Countrywide Partners Limited has been named as a promoter of a tax avoidance scheme by HMRC. If you have been paid by them via this scheme where a part of your salary was in the form of a loan, please get in touch with HMRC now! Scheme users entered into an employment contract with Countrywide … Continue reading More tax avoidance schemes named

New register to crack down on dirty money and corrupt elites in UK goes live

A new register being launched today will help root out corrupt elites using UK property to launder their illicit wealth. New register to flush out corrupt elites laundering money through UK property goes live todayoverseas entities that refuse to reveal the true owner of their property will face sale restrictions and could receive tough fines … Continue reading New register to crack down on dirty money and corrupt elites in UK goes live

Fraudsters seek to hijack personal tax accounts

HM Revenue and Customs (HMRC) is warning tax payers not to share sensitive personal information online to avoid their identities being used to commit tax fraud. HMRC is aware that criminals are attempting to obtain customers’ Government Gateway logins and other personal details, enabling them to register for Income Tax Self Assessment and submit bogus tax … Continue reading Fraudsters seek to hijack personal tax accounts

HMRC fraud squad takes back £1 billion from offenders

More than £1 billion has been recovered from the proceeds of crime and tax offenders since the formation of a specialist HM Revenue and Customs (HMRC) fraud squad five years ago.  Launched in April 2016, the department’s Fraud Investigation Service (FIS) has now recovered assets equivalent to funding around 20,000 NHS nurses for an entire … Continue reading HMRC fraud squad takes back £1 billion from offenders

New Economic Crime (Anti-Money Laundering) Levy

The government is establishing an Economic Crime (Anti-Money Laundering) Levy. This new levy will first be charged on entities that are regulated during the financial year from 1st April 2022 to 31st March 2023, the amount payable determined their size based on UK revenue from periods of account ending that year. Amounts will be payable … Continue reading New Economic Crime (Anti-Money Laundering) Levy

Reduce risk of using umbrellas who operate tax avoidance schemes

HM Revenue and Customs (HMRC) have issued new guidance to help agencies and employers reduce their risks of using umbrella employers who are operating tax avoidance schemes. Tax avoidance schemes Disguised remuneration schemes These schemes claim to prevent some payments being taxable. They describe taxable earnings paid for doing a job as something that is … Continue reading Reduce risk of using umbrellas who operate tax avoidance schemes

Money Laundering Consultations launched

HM Treasury have published two consultations in relation to Anti-Money Laundering: 1. Changes to the Money Laundering Regulations 2. Reviewing the UK’s anti money laundering and terrorist financing regulatory and supervisory regime Both consultations are open for responses until 14‌‌‌th October‌‌ ‌2021. More information on all of HMRC’s anti money laundering guidance for businesses can … Continue reading Money Laundering Consultations launched

Tax refund company complaints increase

The Low Incomes Tax Reform Group (LITRG) is concerned that some people who have used a tax refund company to get a PPI (payment protection insurance) or working from home tax refund are now discovering that unconnected tax refunds are also going to the refund company, with further fees being deducted. Deed of assignment! People … Continue reading Tax refund company complaints increase

Payroll boss in tax avoidance scheme 11-year ban

Leicester payroll services boss banned for orchestrating multi-million pound tax avoidance scheme, while failing to justify £37 million expenditure in 11 months Scott Rooney, of Leicester, was appointed sole director of Magnetic Push Limited in February 2017. The company provided payroll services, trading from a serviced office in Liverpool, and was previously known as The … Continue reading Payroll boss in tax avoidance scheme 11-year ban

Supply chain due diligence to assure labour supply chains

HMRC have issued guidance (13th May 2021) to both and help warn business to be aware of risks within Labour supply chains. Why assure the labour supply chain Failing to take reasonable action to make sure that the supply of labour is legitimate can lead to significant legal, financial and reputational risks, liability for unpaid … Continue reading Supply chain due diligence to assure labour supply chains

Consultation on ‘Raising standards in the tax advice market: professional indemnity insurance and defining tax advice’

Dear Payadvice.U.K. Our consultation on 'Raising standards in the tax advice market' was published on 23‌‌‌rd March 2021. This is your chance to have your say. We need to understand the impact these proposals would have on taxpayers, businesses, the insurance industry and the wider tax advice market, so your views are really important to … Continue reading Consultation on ‘Raising standards in the tax advice market: professional indemnity insurance and defining tax advice’

HMRC Anti Money Laundering team change name to Economic Crime Supervision

Dear Payadvice, HMRC's Anti Money Laundering Supervision (AMLS) team is changing its name to Economic Crime Supervision (ECS) from 1‌‌ April 2021. This change does not affect our responsibilities under the Money Laundering Regulations or how we will interact with you.   You may continue to see AMLS referenced in correspondence from us during April whilst the changes take effect. You … Continue reading HMRC Anti Money Laundering team change name to Economic Crime Supervision