You’ve heard the warnings, and now the actions are happening. The HMRC are coming for illegitimate Umbrella companies and arrests are being made. But what does it mean for you, if you’ve been working under such a scheme? Whilst it’s unlikely contractors will be arrested, more and more are being made bankrupt due to the high charges they need to repay. HMRC has said the average settlement for individuals is £13,000 – not the letter you want to fall on your door mat!
A HMRC representative had the following advice: “We strongly encourage people not to use loan-busting schemes and methods.
“They clearly don’t work and people run the risk of losing more money and being involved in fraud. As we always say – if it looks too good to be true, then it undoubtedly is.”
If you’re currently sat thinking that things may be amiss with your current set up, get in touch with us today for details of our strict, audited PLS of payroll companies.
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Don’t get caught in the rain!