There have been over the years all sorts of “schemes” dreamed up designed to significantly reduce tax bills. However, HMRC do not, for obvious reasons, like these and many that were set up have been challenged in the courts and HMRC tend to “win”. The tax “saved” becomes payable, along with potential interest and penalties.
HMRC publish a list of current promoters of schemes. Not all appear on the list, as they may not be aware of them, or are still investigating them.
The current list of named tax avoidance schemes, promoters, enablers and suppliers can be reviewed here: https://www.gov.uk/government/publications/named-tax-avoidance-schemes-promoters-enablers-and-suppliers/current-list-of-named-tax-avoidance-schemes-promoters-enablers-and-suppliers#able-ltd
If you have been involved on any of the schemes listed or are considering using them, please talk to us as a matter of urgency.
