HMRC wins £40m legal case over tax avoidance scheme

Pedro Gonçalves
clock • 2 min read

The UK tax authority will collect £40m in unpaid taxed following its successful case against tax avoidance scheme promoter, Hyrax Resourcing. Following the court battle, Hyrax must now disclose the details of its tax avoidance scheme to HMRC, along with the names and addresses of the 1,180 high earners who used it. If the scheme fails to comply, it could face a penalty of almost £6m. Treasury financial secretary Mel Stride says: "HMRC is cracking down on the unscrupulous promoters who sell these highly contrived tax avoidance loan schemes. "Promoters need to take note of this decis...

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