HMRC has issued its spotlight "Capital Gains Tax: Entrepreneurs' Relief tax avoidance scheme".  The scheme aims to turn contracting income into capital.

This features a scheme designed to allow the taxpayer to pay 10% tax on income.

Under this type of scheme:

In this Spotlight:

This is another avoidance scheme targeted at contractors.

An email address is provided for taxpayers who wish to discuss their use of this scheme with HMRC and who do not have a contact.

Links

Anti-avoidance: HMRC's spotlights

Guides for contractors:

PSC Contractor update: what's new from April 2016

External link

HMRC's guidance Capital Gains Tax: Entrepreneurs’ Relief tax avoidance scheme