May 6, 2023
Investigations
The SNP’s new auditors are flogging a dodgy tax avoidance scheme, and may face a £1m HMRC penalty
The Signature Group, owned by the SNP’s new auditors, are promoting a tax avoidance scheme aimed at parents who send their children to independent school. It supposedly enables parents to fund school fees from their pre-tax income – which, for parents with three kids at a top Scottish independent school – could avoid £100k per year. I say “supposedly” because the scheme is nonsense. HMRC are likely to challenge the scheme, and are likely to win. Parents should steer clear.