HMRC has published an update to their list of named tax avoidance schemes and promoters, with the following additions:
- Bluestar Financial Solutions Limited
- Buckingham Wealth Ltd
- Excala Solutions Limited
- Hive Umbrella Ltd
- PAYE Services Limited
Whilst there are currently some 60+ companies named on HMRC’s list, please be aware that it is not fully comprehensive – particularly as schemes are only named for 12 months and then removed!
As a general rule, you should always be sceptical of any ‘umbrella’ or similar business that is offering you a larger taken home pay that you would receive through standard payroll. In addition, please ensure that you regularly check your personal tax account with HMRC to ensure that they are receiving appropriate tax and NICs in relation to your income.
