HMRC stated that Atlas Accountancy Limited, took fees from B2BTradecard Limited in an avoidance scheme where users claimed tax deductions for buying “advertising services” from the company before getting up to 80 per cent back through prepaid cards without paying any tax.
HMRC stated its view is that this was disguised earnings that should have been taxed like any other income.
The fees taken by Atlas Accountancy Limited were calculated based on a fixed percentage of the amounts spent by their clients on the arrangements promoted by B2BTradecard Limited.
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The firm, based at Suite 7, Europa House, 11 Marsham Way, Gerrards Cross, was one of the five firms named as connecting clients to the scheme.
On its website, the company describes itself.
It said: “Our promise is ‘to provide quality service, value and tax savings to all our clients’.
“Our aim is to help you to plan for your future and minimise tax costs wherever possible.
“We will provide dedicated support and interest for your business from day one and ensure you are always kept up to date with all tax and accounting matters when necessary.”
It adds: “Some companies come to us for a nudge in the right direction to prepare accounts and others want a comprehensive accounting solution to cover their VAT, bookkeeping and final Companies House and HMRC requirements.”
The other firms named by HMRC were HB&O Ltd, Ojak Consultancy Limited, Henry Bramall & Co Limited, and Roelken Limited.
Also named for their involvement in the referrals are management companies Harrison Beale & Owen Management Services Limited and SPM Management Consultancy Ltd.
HMRC’s view is that the scheme does not work and fails to provide the tax advantages sought.
Director of Counter Avoidance, Jonathan Smith, said: “Promoting tax avoidance is unacceptable. Accountants and tax advisors should give their clients sound advice, not steer them towards schemes that can result in large tax bills.
“Naming the people involved in promoting tax avoidance schemes is a crucial step in helping customers stay clear of current and future schemes they might promote.
“We understand that facing unexpected tax bills can be stressful and we urge any users of this scheme to contact us immediately so we can help them settle their affairs.”
Some firms named also handled their clients’ tax affairs and audited their accounts, while earning the commissions from B2BTradecard Limited.
Anyone who thinks they’ve been involved in a tax avoidance scheme should contact HMRC immediately at CAGetHelpOutOfTaxAvoidance@hmrc.gov.uk
