SMALL BUSINESSES AT RISK IN TAX AVOIDANCE CLAMPDOWN
October 22 2015.



Thousands of small companies could be facing an uncertain future as a result of HMRC’s clampdown on tax avoidance schemes, according to an insolvency trade body.

As HMRC steps up its demands for repayment, R3 says that companies are receiving demands for tens or even hundreds of thousands of pounds in potentially unpaid tax and national insurance contributions. HMRC has said it expects to issue nationally a further 40,000 demands by the end of 2016.

Spokesman for R3 Paul Barber and a partner at Begbies Traynor says the use of disputed tax schemes is not limited to big business and celebrities. 'Up until 2011, tax schemes were widely used by small businesses operating in sectors such as IT, finance, construction, offshore oil and gas, and property. as a way to remunerate their senior staff.

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