Tax avoidance schemes have been named by HMRC as users are warned they could face large tax bills.

HMRC has advised that anyone involved in Absolute Outsourcing’s or Purple Pay Limited’s Equity Participation Scheme to withdraw as soon as possible to prevent building up a large tax bill.

This is the first time HMRC has used new powers to name tax avoidance schemes and their promoters. It comes as part of a campaign to warn the public not to get caught up in tax avoidance.