Apricot Umbrella Limited

How the scheme works

The arrangements involve individuals providing their services to end clients or agencies through AUL and entering into an agreement where individuals grant ADYE Ltd a right to enter an Annuity Agreement in exchange for payments (the ‘Grantee Payments’). The individuals receive payment from AUL, however, tax and National Insurance contributions (NICs) are only deducted on a small part of the amount. This is evidenced on the payslips and figures reported toHMRC. It isHMRC’s view, that the larger amount, paid without deduction of tax andNICswas for the ‘Grantee Payments’, but is paid by AUL on behalf of ADYE Ltd. It is alsoHMRC’s view that the ‘Grantee Payments’ were additional disguised income for the services individuals provided through AUL, and therefore the entire payment should be subject to tax andNICs.

Directors

• Mr Brian Ash
• Giannakis Fisentzou

Addresses

• Apricot Umbrella Limited: 20 North Lane, Canterbury, CT2 7PG
• ADYE Ltd: 5-7 G&S Court, 4th Floor, Flat/Office 401, 6030, Larnaca, Cyprus

Connected Companies

• ADYE Ltd