Cyprus holding company promotes tax avoidance

A trio of employment agencies have broken tax rules by paying agency workers part of earnings tax free, including an agent of a Cypriot operation

Edge Umbrella, Hamilton Bradbury and Olympus Contracting have been named by HMRC as tax avoidance promoters.

In the case of Edge Umbrella Limited, which was set up in April 2020 at the start of the pandemic, the company is an agent of Cyprus based Deposlo Holdings Limited. The Advertising Standards Authority has also rapped the company for breaching advertising rules by promoting tax avoidance on its website.

The company is run by director Darren Holding, who is a management accountant, and runs the operation and does not have any employees.

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