EBT HELL: Assignment Solutions Isle Of Man / Premier Tax Strategies / DMS

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Agree with the above.

We often hear clients saying that they are

"self employed via my own company"

That makes no sense.

A self employed person will be a sole trader or perhaps in partnership.

If you have a company of which you are a director, you are an office holder and/or employee of the company.

In tax terms, in that situation, the company and you are separate tax personalities.

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Toone & Ors v Ross & Anor, Re Implement Consulting Ltd [2019] EWHC 2855 (Ch) (30 October 2019)

This judgement may be of interest.

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Toone & Ors v Ross & Anor, Re Implement Consulting Ltd [2019] EWHC 2855 (Ch) (30 October 2019)

This judgement may be of interest.

Yes it is.

I've been reading it this afternoon and have produced what is not so much an analysis as a series of questions as to how far the judgement extends.

In short, is this limited to companies in some form of insolvency - or which has completed an insolvency but can be reinstated - or is the decision that a payment to an EBT is an unlawful distribution of company capital, one that can apply in circumstances outside insolvency?

If it is the case that money taken from a company whilst in insolvency and there is a possibility/probability that HMRC wants tax, which the directors are responsible for, then all those who sold mass marketed schemes might be rather uncomfortable this afternoon.