IOM PTC is connected to a tax avoidance scheme subject to an HMRC stop notice.

Under the Promoters of Tax Avoidance Schemes (POTAS) regime, HMRC can publish information about promoters of tax avoidance schemes subject to a stop notice and details of the scheme specified in the notice.

The POTAS rules apply to promoters of tax avoidance schemes. These rules aim to deter the development and marketing of avoidance schemes.

The most recent update was on 1 August 2024 with the additions of stop notice 24 and stop notice 25 and is here:-

• https://www.gov.uk/government/publications/named-tax-avoidance-schemes-promoters-enablers-and-suppliers/list-of-tax-avoidance-schemes-subject-to-a-stop-notice#stop-notice-24

In looking at the list, it is noted that an IOM PTC is involved.

Focus Contractor Limited is listed as a tax avoidance scheme promoter¹.

The UK government maintains a list of named tax avoidance schemes, promoters, enablers, and suppliers, and Focus Contractor Limited is included in this list¹.

The Isle of Man has specific rules to deal with aggressive tax avoidance schemes¹². The primary responsibility for disclosing avoidance schemes to the Treasury lies with the scheme promoters¹.

Any arrangements or proposals that might enable a person to gain a tax advantage in relation to indirect taxes must be disclosed to the Treasury¹. Penalties can apply if notifiable proposals or arrangements are not disclosed accurately and at the right time¹.

As of December 2022, the United Kingdom Government issued draft legislation relating to the Disclosure of Avoidance Schemes for VAT and other indirect taxes².

The Island is obliged to maintain its customs legislation and procedures to correspond to those in the United Kingdom, so any changes made to the Disclosure of Avoidance Schemes for VAT and other indirect taxes would be reflected in legislation on the Island².

For more detailed information, you may want to check the official Isle of Man Government website or contact the relevant authorities¹².

Source:

(1) Current list of named tax avoidance schemes, promoters, enablers and .... https://www.gov.uk/government/publications/named-tax-avoidance-schemes-promoters-enablers-and-suppliers/current-list-of-named-tax-avoidance-schemes-promoters-enablers-and-suppliers

(2) List of tax avoidance schemes subject to a stop notice. https://www.gov.uk/government/publications/named-tax-avoidance-schemes-promoters-enablers-and-suppliers/list-of-tax-avoidance-schemes-subject-to-a-stop-notice

(3) HMRC names Focus Contractor Ltd as a tax avoidance scheme contractors .... https://www.contractoruk.com/news/0016120hmrc_names_focus_contractor_ltd_tax_avoidance_scheme_contractors_should_withdraw.html