Loan scheme Articles

HMRC Wins Case Over Contractor Loan Scheme
marketing | 4 April 2019
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HMRC has won a tribunal case against a contractor loan scheme promoted by Hyrax Resourcing Ltd.

Hyrax Resourcing will now be forced to disclose the details of 1,180 ‘high earners’ that use the scheme and help the tax authority claim back more than £40 million in unpaid taxes.

The scheme in question was a disguised remuneration tax avoidance scheme that paid users in loans so that they could avoid paying income tax and National Insurance contributions on their earnings.