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HMRC Names Annuity Scheme On Latest Tax Avoidance List

HMRC’s list of named tax avoidance schemes and promoters has been updated with two new additions:

  • Canopaye Limited
  • Integra Resourcing Limited (Malta)

Canopaye promoted an annuity arrangement which is a relatively new type of tax avoidance scheme.  HMRC said: “private annuities, such as those used in this scheme, are very rare.”  An annuity is a form of investment where a person pays a lump sum, usually to a pension company, in return for a guaranteed income – either for life or a fixed number of years.

Integra has links with two businesses already on the list – Greenwich Contracts and Charteris Management.

HMRC’s list now has some 35+ named companies on it, and has grown steadily since it’s inception in April 2022.

Please remember that there are many more schemes out there so you can’t solely rely on HMRC’s list, but it is a good starting point. Some interesting names have already been included, and there’s certainly going to be some more high profile names to come.

We always publish updates to HMRC’s list, so make sure you subscribe to our newsletter to keep informed.

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