A list of tax avoidance schemes whose users may be required to make an upfront payment of tax has been published by HMRC. The Finance Ac 2014, which received Royal Assent on 17th July, gave HMRC this new power called ‘accelerated payments’. This means users of schemes with a reference number on the list may receive a notice to make an upfront payment of tax.

HMRC advise that the list is being published to help avoidance scheme users and their advisors to prepare for accelerated payments. Before issuing anyone with an accelerated payment notice, HMRC will write to them. The list can be found at www.gov.uk/government/publications/tax-avoidance-schemes-on-which-accelerated-payments-may-be-charged-by-hmrc

HMRC advise that the list is under continual review, to ensure that current and newly-disclosed schemes whose users may receive an accelerated payment notice are included. The list contains scheme reference numbers (SRNs) rather than scheme names, as taxpayers will have used this to identify their use of an avoidance scheme when completing their Self-Assessment return. Promoters of avoidance schemes are not required to disclose scheme names to HMRC. The SRN is all the user will need in order to identify whether their scheme is on the list. HMRC will consider whether it is possible to compile and publish a list of scheme names alongside the SRNs.