Tax Design.

[prozak]

Anyone here using these guys or heard of them even?

Looking to see if anyone has any stories about payments and customer service.

[prozak]

anyone?

[Archangel]

Their promises sound the same as Sanzar, et al.

They give no details of their scheme, but its probably an EBT stylee.

If they go down, you will be resposible for the tax

Bargepole required.

(they guarantee 90% after fees and taxes! Yeah, right, I was born 22/04/2009)

If you are interested I have the following offers:

1) Magic beans. These have been checked by HMRC and found to be legal. I have taken legal councils advice and he says there is nothing that can be illegal about the beans, although if the beans turn out not to be magic, no refunds will be given. 100% guarranteed
2) $100,000,000.00 (one hundred Million dollars US) in an account in Nigeria owned by my father the late Dr Umbumbo Mumbo Jumbo, I just need someone with a UK bank account to get at the money. We will split it 50/50 GUARRANTEED 100% legit.

[prozak]

well now.

one must investigate such things to find out what is going on.

currently use my own ltd co. but always interested in seeing if there are legal ways to reduce taxes.

[DonkeyRhubarb]

well now.

one must investigate such things to find out what is going on.

currently use my own ltd co. but always interested in seeing if there are legal ways to reduce taxes.

It doesn't matter if an arrangement is legal at the time, when there is a risk that the Government can retrospectively make it illegal (see BN66).

However watertight a scheme may appear, you need to be aware that there is a real possibility that many years down the line you could have to repay the tax with interest. It's hard to quantify the risk but it's no longer hypothetical.

Personally, I would say the risk is much greater than being caught out by IR35, and it's debatable whether the extra return is worth it.

However, as long as you enter with your eyes wide open to this possibility, then I don't see the problem with using these types of scheme.

[prozak]

It doesn't matter if an arrangement is legal at the time, when there is a risk that the Government can retrospectively make it illegal (see BN66).

However watertight a scheme may appear, you need to be aware that there is a real possibility that many years down the line you could have to repay the tax with interest. It's hard to quantify the risk but it's no longer hypothetical.

Personally, I would say the risk is much greater than being caught out by IR35, and it's debatable whether the extra return is worth it.

However, as long as you enter with your eyes wide open to this possibility, then I don't see the problem with using these types of scheme.

Cheers for your input Donkey.

Obviously there is a risk HMRC will investigate - no matter what you do.

For my circumstances - whether some scheme or IR35 - if they do this soon then the repayment isn't much. If they do it later - well I am non dom and intend on returning to my country of domocility in the next few years... they can send any investigations to me there.

[DonkeyRhubarb]

If they do it later - well I am non dom and intend on returning to my country of domocility in the next few years... they can send any investigations to me there.

I was in two minds whether or not to say this but your circumstances are ideally suited to the schemes.

[prozak]

I was in two minds whether or not to say this but your circumstances are ideally suited to the schemes.

Cheers Donkey.

May look into it further on next contract.

Always a bit nervous having monies go through umbrella companies as you just never know what might happen.... whether services is good.. whether they are solid financially etc etc.

Not just hector to worry about these days!

Hence the original post to see if anyone had dealings with these guys.

[BlasterBates]

I wouldn't compare IR35 to more creative forms of tax avoidance.

For IR35 there is insurance. IR35 is very much individual, so if HMRC do inquire, and get aggressive they usual settle and the amount is payed by the insurance. The amounts are much less. The only case known where there was a high amount was Dragonfly, but that was exceptional.

If you're in a scheme, there'll be several hundred others in it as well, so the attack from HMRC will be far more severe.

In Germany I avoided their equivalent of IR35 and I did receive an enquiry eventually, as to why I hadn't payed Social Insurance but after ticking the box I was self-employed resulted in no further communication. Other contractors who went down the employee of a tax avoidance scheme, because "it was easier" have had their lives completely ruined.

If you contract longterm you will almost certainly be audited or investigated at some point. Think and plan about how you would deal with that.

[prozak]

I wouldn't compare IR35 to more creative forms of tax avoidance.

For IR35 there is insurance. IR35 is very much individual, so if HMRC do inquire, and get aggressive they usual settle and the amount is payed by the insurance. The amounts are much less. The only case known where there was a high amount was Dragonfly, but that was exceptional.

If you're in a scheme, there'll be several hundred others in it as well, so the attack from HMRC will be far more severe.

In Germany I avoided their equivalent of IR35 and I did receive an enquiry eventually, as to why I hadn't payed Social Insurance but after ticking the box I was self-employed resulted in no further communication. Other contractors who went down the employee of a tax avoidance scheme, because "it was easier" have had their lives completely ruined.

If you contract longterm you will almost certainly be audited or investigated at some point. Think and plan about how you would deal with that.

Cheers Blaster.