Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Farcical loophole sees tax avoidance schemes removed from government’s list

by April 17, 2023
April 17, 2023
Farcical loophole sees tax avoidance schemes removed from government’s list

The government has removed two identified tax avoidance schemes from its official list after legislation which allows for a scheme to be publicised only allows it to be made public for 12 months.

The move has been described as “ridiculous” and “appalling” by two industry experts, who have called on the government to do more to stop the proliferation of tax avoidance schemes.

The schemes removed from the government’s list of tax avoidance schemes, promoters, enablers and suppliers are Absolute Outsourcing and Equity Participation Scheme (EPS), promoted by Purple Pay Limited (PPL).

Julia Kermode, founder of IWORK – the body championing independent workers – commented: “This is a particularly ridiculous piece of legislation. Naming a tax avoidance scheme only to delete it from an official list a year later is crazy. How can anyone steer clear of tax avoidance schemes when HMRC’s own list isn’t up to date? It’s beyond belief. This list isn’t a deterrent for tax avoidance schemes – it’s merely a temporary blip in the history of these so-called companies.

“These schemes wreck lives. They lure in unsuspecting individuals upon the pretence that they are legal and compliant. Then, when HMRC comes calling, the individual is left with a devastating tax bill. Meanwhile, the scheme, along with the people running it, have disappeared into thin air.”

Fred Dures, founder of specialist payroll auditor, PayePass, added: “This would be laughable if it wasn’t so serious. As it stands, the government’s list of tax avoidance schemes is only the tip of the iceberg. Now we find out that due to an absurd piece of legislation, one year on from a scheme being identified, it’s removed from the list. It’s appalling.

“What’s more, the government has only been naming and shaming these schemes for one year. Fast forward a few weeks and months and, at this rate, the list will continue to shrink. It’s one step forward, two steps back – a farcical loophole.

“Few will deny that the umbrella industry needs regulating, yet the government still hasn’t delivered it. It means the responsibility will continue to fall on businesses engaging umbrella companies to ensure compliance and operate transparent payment processes.”

Read more:
Farcical loophole sees tax avoidance schemes removed from government’s list

0
FacebookTwitterGoogle +Pinterest
previous post
Yonder secures £62.5 million in Series A funding to scale operations on mission to transform consumer relationships with credit
next post
Why more companies are turning to recruitment agencies for hiring solutions

You may also like

Tube strikes cancelled after ‘intense’ talks lead to...

July 21, 2023

Secrets of Success: Charlie Ruddy, CEO of BeFibre...

October 4, 2023

Why Is Enterprise SEO Essential for Businesses?

August 4, 2022

UK farmers’ incomes stuck at 1970s levels, major...

March 13, 2025

An in-depth look into VoIP Callbox for intercom...

January 27, 2023

Wilko stores set for return to the high...

October 27, 2023

Government injects £530m in connectivity to support over...

December 15, 2023

Keep Faith In Gary O’Neill Despite Winless Start

October 31, 2024

The Future of Online Trading Platforms – A...

October 17, 2023

UK’s Investment Association warns of ‘trading bot’ risk...

February 1, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Elon Musk warpath against Trump’s ‘big, beautiful bill’ rattles House GOP

      June 4, 2025
    • Durbin obstruction threat chills Senate as Trump nominees hang in balance

      June 4, 2025
    • Elon Musk posts ‘Kill Bill’ meme in latest push to nix Trump’s ‘big, beautiful bill’

      June 4, 2025
    • Why ADX Can Mislead You — And How to Avoid It

      June 4, 2025
    • S&P 500 on the Verge of 6,000: What’s at Stake?

      June 4, 2025
    • Johnson says Republicans ‘don’t have time’ to craft new Trump plan despite Musk’s call to ‘KILL the BILL’

      June 4, 2025

    Categories

    • Business (8,143)
    • Investing (2,006)
    • Politics (15,518)
    • Stocks (3,127)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved