A tax avoidance scheme promoter has been hit with a £1 million fine after a legal challenge by 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.
Hyrax promoted a disguised remuneration scheme that involved routing money to an offshore trust in Jersey. The scheme was the successor to the K2 avoidance scheme ...
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