Who is the umbrella that is offering this?
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Umbrella companies using growth share schemes
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Originally posted by malvolio View PostSorry but there is every reason to bite. Even considering using such schemes - any scheme, not just this one - is an act of gross stupidity so we try to warn people off them as clearly as we can.
But hey, your money, your life, your 15 years tax investigation.Comment
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Originally posted by WTFH View PostWho is the umbrella that is offering this?Last edited by Isuvu; 1 June 2020, 12:23.Comment
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Originally posted by Isuvu View PostThere seem to be quite a number of them, I'm not willing to start listing the names here as I don't want any run in's, seem to have achieved this with other members just for raising the questions!!
We'd be interested just to get the name of one of them, maybe the one that gave you the information in your first post.
It's highly likely that they are an "umbrella" linked to a business that may have tried running schemes in the past, and it can serve as a useful warning to others.…Maybe we ain’t that young anymoreComment
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Originally posted by Isuvu View PostCrikey, you lot really aren't a nice bunch!! Appreciate the advice, but there is never a reason to be rude!!Blog? What blog...?Comment
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Here is the killer...
Even if an arrangement is apparently watertight, HMRC can either:
(a) hit it with the GAAR (google it)
OR
(b) get the Government to introduce retrospective legislation to clobber it
The Government has already done (b) on several occasions, in the past 12 years, to tackle arrangements.
But, hey, if you feel lucky...Last edited by DealorNoDeal; 1 June 2020, 12:38.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by DealorNoDeal View PostHere is the killer...
Even if an arrangement is apparently watertight, HMRC can either:
(a) hit it with the GAAR (google it)
OR
(b) get the Government to introduce retrospective legislation to clobber it
The Government has already done (b) on several occasions, in the past 12 years, to tackle arrangements.
But, hey, if you feel lucky...
And thank you for the above info.. I am aware of all of these things, If people don't ask questions then these things don't get unearthed, you don't need to go for the jugular every time!!! Play nice!!Comment
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Originally posted by Isuvu View PostChrist, enough with the nasty, clearly you've been bitten, and badly..You're sore I get it!!
And thank you for the above info.. I am aware of all of these things, If people don't ask questions then these things don't get unearthed, you don't need to go for the jugular every time!!! Play nice!!
But after telling people to step away from anything like this for at least twelve years, our collective patience is perhaps understandably wearing a little thin.Blog? What blog...?Comment
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Originally posted by Isuvu View PostChrist, enough with the nasty, clearly you've been bitten, and badly..You're sore I get it!!
And thank you for the above info.. I am aware of all of these things, If people don't ask questions then these things don't get unearthed, you don't need to go for the jugular every time!!! Play nice!!Comment
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Originally posted by Isuvu View PostOnce this part has been completed, the remaining amount is transferred into a Growth Share plan which is a method of employee benefit used by businesses throughout the UK.
EBTs are used by some companies. Growth shares are used by some companies. But the whole point of growth shares is that they don't need to involve EBTs.
There is a whole heap of legislation that stops this working (s62, including redirection of earnings principle, Chapters 2, 3B, 3D and 4 of Part 7, Part 7A, transactions in securities, transfer of assets abroad, GAAR, etc). GAAR is an easy challenge for HMRC, especially with the 60% penalty.Comment
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