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