EBT HELL: Assignment Solutions Isle Of Man / Premier Tax Strategies / DMS EBT HELL: Assignment Solutions Isle Of Man / Premier Tax Strategies / DMS - Page 34
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  1. #331

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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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  2. #332

  3. #333

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    Quote Originally Posted by piebaps View Post
    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.
    Best Forum Adviser & Forum Personality of the Year 2018.

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