Novus Consultants Limited - HMRC named tax avoidance scheme

Novus Consultants Limited

  • Promotor of Scheme: Novus Consultants Limited
  • Address: Novus Consultants Limited (formerly Novus Limited): 1st floor, Queen Victoria House, Victoria Street, Douglas, IM1 2LF, Isle of Man / Contractor Corner Accounting Limited: Suite 1, Plymouth House, Plymouth Road, Blackpool, FY3 7JS, England
  • Publication Date: 7 July 2022
  • Scheme Reference Number (SRN) and date it was allocated: 69140374, 4 April 2022
  • HMRC’s Scheme Description: “Schemes users sign an employment contract and a ‘Commercial Loan Agreement’ (CLA) with NOL. The user will be paid a salary based on National Minimum Wage (NMW) that is taxed, and a second payment that is not taxed under the CLA. NOL retains around 20% of the gross contract earnings.”

Novus Consultants Limited – more details

The HMRC website states the scheme operates as follows:

  1. Scheme Users enter into an employment contract and a CLA with NOL. The employment contract confirms users will be paid a salary based on NMW, and the CLA confirms that NOL will provide the scheme user with ‘loans’.
  2. CAA is UK based company providing onshore support to NOL, this includes invoicing the end user and taking receipt of the payments, which it then passes to NOL.
  3. The scheme user undertakes work for an agency or end client and submits timesheets to CAA or provides other evidence of time worked. CAA invoices the agency/end client for that work.
  4. NOL retains around 20% of the amount invoiced and the remaining balance is paid to the scheme user in 2 ways:
    • a salary payment based on NMW through the payroll which is taxed.
    • the ‘loan’ which is not through the payroll and is not taxed.

For more information, visit the following page on the government’s website: Current list of named tax avoidance schemes, promoters, enablers and suppliers.

Return to the full list of tax avoidance schemes named and shamed by HMRC

Please click here to go back to the full list of tax avoidance schemes named and shamed by HMRC.

Click here to see our top 10 umbrella companies!
Inline Feedbacks
View all comments
Scroll to Top