Warning for Lanarkshire residents after HMRC shuts down company who charged taxpayers significant sums

dailyrecord.co.uk:

Lanarkshire residents are being urged to "carefully consider" their future options after a company which charged taxpayers significant sums to make claims for tax refunds was stopped from operating.Tax Credits Ltd (TCL) can no longer trade as a repayment agent after HM Revenue and Customs (HMRC) found they had committed serious anti-money laundering breaches.As a result of breaching the regulations, which are predominately designed to prevent businesses being exploited by criminals to launder money, it is now a criminal offence for TCL to trade as a tax repayment agent.The Lanarkshire Live app is available to download now.

Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7.The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter most to you.Head to the App Store and never miss a beat in Lanarkshire - iOS - Android The move comes weeks after HMRC outlined greater protections for customers using repayment agents.Lanarkshire taxpayers can use repayment agents to make claims for repayment of tax, and while many customers are happy with the service they receive, a large number of taxpayers have complained about the lack of transparency in agents’ processes for signing up clients and high charges for using their services.

Angela MacDonald, HMRC’s deputy chief executive and second permanent secretary, told Lanarkshire Live: "TCL have ignored their responsibilities under the anti-money laundering measures designed to protect us all from financial crime. “We will not allow a small number of bad actors to tarnish the