A Radcliffe firm has been named on list of businesses which used or promoted a tax avoidance scheme.

Acacia Resourcing Services Limited, registered at Stanmore House on Blackburn Street, was listed by HM Revenue and Customs (HMRC) along with others on Thursday, April 20.

The business was previously registered at an address on Mann Island in Liverpool until October last year. 

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The company, which delivered payroll services for UK contractors, is now in liquidation, according to Companies House.

The tax avoidance scheme linked to the firm worked by users signing an employment contract with Acacia that says they will be paid at least the National Minimum Wage (NMW).

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The HMRC report of the scheme added: "Users also enter into an option grant agreement with Acacia.

"Users submit timesheets to Acacia who invoice the end client or agency for the services the user has provided.

"Users are then paid a salary around NMW.

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"After deducting an umbrella margin/administration charge and an additional fee in the region of 15 per cent, Acacia pay the balance to the user, and this is supposedly for the grant of an option.

"This payment is claimed to be a capital payment and no tax or National Insurance is deducted."  

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