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Tax avoidance schemes

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HMRC has added Spotlight 37 to its targeted list of tax avoidance schemes. This concerns a disguised remuneration scheme under which an umbrella company pays contractors partly in the form of redeemable loyalty points for advertising their services on a job board. No tax or NICs deductions are made on redemption of the loyalty points. HMRC says it will challenge all users of this scheme and any umbrella companies involved.