Individuals using a tax avoidance scheme provided by Peak PAYE Ltd are urged to withdraw from it and to contact HMRC as soon as possible.

This latest publication of a tax avoidance scheme promoter comes after HMRC recently used new powers for the first time as part of its Don’t Get Caught Out campaign.

The named tax avoidance promoter is Peak PAYE Ltd, of 86-90 Paul Street, London, EC2A 4NE.

The tax avoidance scheme pays contractors National Minimum Wage, and then pays the remainder of the contractor's wage disguised as a financial option or as a salary advance. The company then promises users that they can avoid paying National Insurance and income tax by signing up to the scheme.