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A company which charged taxpayers significant sums to make claims for tax refunds has been stopped from operating.
Tax Credits Ltd (TCL) can no longer trade as a repayment agent after HMRC found it had committed serious anti-money laundering breaches. As a result it is now a criminal offence for TCL to trade as a tax repayment agent.
The company introduced the process in December 2021 and after an investigation HMRC was not satisfied that the process and documentation led to a valid assignment of repayments to Tax Credits Ltd. There was inadequate evidence within the process of the client’s intention to assign ownership of their refund to Tax Credits Ltd including clients not being shown the documentation or being specifically asked to sign the page.
Angela MacDonald HMRC’s deputy chief executive and second permanent secretary said: ‘It is crucial...
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