Contractor loan scheme Articles

HMRC issues warning re Contractor Loan Scheme
marketing | 11 June 2015
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HMRC have issued a warning to contractors or freelancers who took part in a tax avoidance scheme called– The Contractor Loan Scheme.

The scheme was designed to pay contractors a loan rather than a salary from a non UK employer with the aim that the loan payment would be tax free (in place of a taxable salary). HMRC are now warning that income tax may still be liable on these types of arrangements.