HMRC has issued stop notices to Peak PAYE Ltd and Saxonside Ltd for promoting disguised renumeration schemes designed to avoid paying National Insurance contributions (NICs) and income tax.

HMRC named the two companies as tax avoidance promoters last year but they have since been issued with stop notices requiring them to halt the sale of these schemes.

Previously, HMRC could only publish the names of tax avoidance promoters but are now additionally able to publicise the issuing of stop notices. There are currently 46 promoters on published list, all offering disguised remuneration schemes which see users avoiding paying tax on earnings.