Look twice to spot bad tax advice

HMRC’s ‘Don’t get caught out’ campaign encourages contractors working through umbrella companies to take a closer look at their circumstances and watch out for tax avoidance.

Contractors can use HMRC’s online guidance and tools to learn about tax avoidance, to understand how they are paid and how to check if the right amount of tax is being paid to avoid an unexpected tax bill later.

There are real-life stories of people caught out by tax avoidance in a short explainer HMRC YouTube video on how umbrella companies work:

Contractors can also review HMRC’s list of published named tax avoidance schemes and their promoters here at the Rossmartin tax site. This is not an exhaustive list, as some operators are yet to be identified by HMRC.

HMRC never approve such schemes, even if promoters say otherwise or promote them by saying they have been found compliant by barristers.

If you have concerns that you may have been caught out, please give us a call on 01384 376 964. We would be happy to help you.

Folkes Worton LLP Chartered Accountants
Accounting for the Future