Tax avoidance promoter fined £1m over Jersey trust scheme  

clock • 2 min read
Tax avoidance promoter fined £1m over Jersey trust scheme  

A tax avoidance scheme promoter has been hit with a £1m fine after a legal challenge by HM Revenue and Customs (HMRC).  Hyrax Resourcing Ltd was handed the almost-maximum allowed fine by the First Tier Tribunal for failing to disclose an avoidance scheme to HMRC as legally required, the tax office said in a statement today (27 July).  Hyrax promoted a disguised remuneration scheme that involved routing money to an offshore trust in Jersey. The scheme was the successor to the K2 avoidanc...

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