EBT - Employee Benefit Trust EBT - Employee Benefit Trust
Page 1 of 4 123 ... LastLast
Posts 1 to 10 of 38
  1. #1

    Should post faster

    Ollie has no reputation


    Join Date
    Jul 2007
    Location
    At Home
    Posts
    105

    Default EBT - Employee Benefit Trust

    Anyone use EBT's?

    Looking for advice, advantages, disadvantages, do they work, offshore, legality.

    Cheers


    Admin note: for anyone finding this through the search engines more information on EBTs is on the main site here: EBTs - employee benefit trusts
    Last edited by Contractor UK; 21st September 2011 at 16:15.

  2. #2

    Godlike

    ASB has more data than eek


    Join Date
    Jul 2005
    Location
    Somerset
    Posts
    5,451

    Default

    Has been covered in great detail (and differing opinions). Difficult to search for though since EBT is too short.

    Personal view is no they don't work any more. Yes they are legal.

  3. #3

    Should post faster

    Ollie has no reputation


    Join Date
    Jul 2007
    Location
    At Home
    Posts
    105

    Default

    I heard they still worked via offshore co's. Is this correct?

  4. #4

    Tosser amongst Tossers

    The Lone Gunman has more data than eek

    The Lone Gunman's Avatar
    Join Date
    Jul 2005
    Location
    Live in Morecambe bay. Currently working in Southern Germany.
    Posts
    7,692

    Default

    Effectively useless. Goldon Brown said as much a couple of budgies ago.
    I am not qualified to give the above advice!

    The original point and click interface by
    Smith and Wesson.

    Step back, have a think and adjust my own own attitude from time to time

  5. #5

    Should post faster

    Scaroth of the Jagaroth has no reputation

    Scaroth of the Jagaroth's Avatar
    Join Date
    Oct 2005
    Posts
    127

    Default

    Quote Originally Posted by Ollie
    I heard they still worked via offshore co's. Is this correct?
    A very risky proposition as they are under increased scrutiny from HMRC. Unless you are very wealthy indeed and stand to save millions, the view is that the risk very much outweighs the gains.

  6. #6

    Fingers like lightning

    zathras has no reputation

    zathras's Avatar
    Join Date
    Jul 2005
    Posts
    865

    Default

    Quote Originally Posted by Ollie
    Anyone use EBT's?

    Looking for advice, advantages, disadvantages, do they work, offshore, legality.

    Cheers
    a) They are illegal. GB made them so after a few stories about footballers using them.

    b) They are (to nick a phrase from someone else) a bargepole mandatory environment.

    When described to me they do seem to be a tad crazy. You take out a secured loan and it is paid off by a company for which said income is unsecured!

  7. #7

    Godlike

    ASB has more data than eek


    Join Date
    Jul 2005
    Location
    Somerset
    Posts
    5,451

    Default

    Quote Originally Posted by zathras
    a) They are illegal. GB made them so after a few stories about footballers using them.
    Most usage of EBT's may well turn out to be illegal by the users (due to misdeclaration, non disclosure of scheme etc) but the EBT itself is perfectly legal.

  8. #8

    Should post faster

    Ollie has no reputation


    Join Date
    Jul 2007
    Location
    At Home
    Posts
    105

    Default

    So would it be sensible to steer clear of them?

  9. #9

    Double Godlike!

    Bagpuss is good enough for Jehovah!


    Join Date
    Jul 2005
    Posts
    10,066

    Default

    Wasn't Dignatio an EBT?
    The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

    But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

  10. #10

    Godlike

    ChimpMaster is NOT a disguised employee

    ChimpMaster's Avatar
    Join Date
    Jan 2006
    Location
    Here There and Everywhere
    Posts
    5,533

    Default

    You can't join EBTs any more in this country. If you were an existing participant prior to Gord's harassment, then you'd be OK, but alas now it is illegal for newcomers.

    There are other 'schemes' around, which are currently legal, but a little riskier than your standard operations. PAYE is the safest route, then I believe your own Ltd. However, as with all things, less risk means less reward.

    Risk is a matter of personal perception. You make your own choice.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •