HMRC use new power to publish tax avoidance scheme promoters, enablers and suppliers for first time

Last month, HMRC announced that it has used its new power to publish information about tax avoidance schemes for the first time. Section 86 Finance Act 2022 took effect from Royal Asset on 24 February 2022 and provides HMRC with a power to publish information about tax avoidance schemes and about persons suspected to be promoters of those schemes.

The first two schemes named are subject to the disclosure of tax avoidance scheme rules and the details published include the scheme reference numbers.

Guidance on this new power is available which explains when details may be published, the type of information that may be published and where it may be published, together with the process for making representations about whether the information should be published.

HMRC has also published a new Spotlight, Spotlight 32 which sets out details of Managed Service Company legislation: unpaid PAYE and Class 1 National Insurance contributions avoidance schemes. HMRC Spotlights are designed to provide information about tax avoidance schemes that HMRC believes are being used to avoid paying tax due.