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Named Tax Avoidance Scheme published by HM Revenue & Customs
Individuals provide services to end clients as self-employed contractors who utilise IFL Management Limited’s umbrella services. IFL Management Limited receives money from end clients or agencies. After IFL Management Limited deduct their fee, the funds are passed down to either Tarbet Ltd or Jupiter Online Ltd, or both of them, who then facilitate payments to one or more of, Tarbet Ltd, Payroll (UK) Limited, Talmine Contracts Ltd, Milton Contracts Ltd, Bocaddon Limited, or Iceni Trading Ltd (the ‘Payment Companies’). One of the Payment Companies’ part-pays the contractors for the work carried out. These payments are reported on the contractors’ self-assessment tax returns. The contractors then receive a second amount from one of the Payment Companies which is described as a ‘self-employed workers loan’. The second payment is not declared on the self-assessment return and neither Income Tax or National Insurance contributions is remitted toHMRC.
PaySentry automatically checks your umbrella company partners against HMRC Named Tax Avoidance Schemes and Stop Notices, alerting you to any matches.
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