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  1. Replies
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    Trustees of offshore schemes will ONLY pay into...

    Trustees of offshore schemes will ONLY pay into bank accounts belonging to the individual for the loan element.
  2. All of the major UK high street banks use Faster...

    All of the major UK high street banks use Faster Payments. This means that any payments between these banks (and the upper limit is commonly £100,000) automatically go via Faster Payments, which for...
  3. Replies
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    3,660

    Who says? HMRC? Despite what they think, they...

    Who says? HMRC? Despite what they think, they don't make the law and the weight of law firmly says that loans aren't income. Even the decision in the badly run Rangers case came down against HMRC...
  4. Replies
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    Trade debtors, cash and assets are on the debit...

    Trade debtors, cash and assets are on the debit side, creditors and share capital are on the credit side. The reason non-accountants get confused is because bank accounts show positive cash balances...
  5. Some of the promoters listed above are still in...

    Some of the promoters listed above are still in existence, and where this is the case I think the people with an enquiry would be best contacting the companies concerned. Not everybody is going to...
  6. Indeed.

    Indeed.
  7. That might be true in their case, but not in the...

    That might be true in their case, but not in the majority of cases.
  8. Where has anybody been misled Michael? The...

    Where has anybody been misled Michael? The overwhelmong response from everybody has been to say "get your appeal in".
  9. At this early stage I'm not sure it really...

    At this early stage I'm not sure it really matters as long as you appeal, as you say. However if you do put a few technical points in, you can always bat it back to them when they invariably don't...
  10. If anybody who is worried about the 08/09...

    If anybody who is worried about the 08/09 letters, (especially those who can't get in touch with old providers) would like a suggested reply to HMRC, I'd be happy to provide some wording. I'm not...
  11. There have been two recent letters from HMRC...

    There have been two recent letters from HMRC recently, the first asking for details of loans received in the year 10/11, and the second more recent one where they state that the loans received in...
  12. Victory for the taxpayers in the Charlton case as...

    Victory for the taxpayers in the Charlton case as the UT confirms that HMRC's discovery assessments were unlawful - RPC Tax Take

    The above case makes it very likely that the discovery notices are...
  13. Replies
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    459,784

    Anybody receiving letters (or even phone calls in...

    Anybody receiving letters (or even phone calls in some cases) from HMRC should not deal with HMRC themselves, but should get in contact with the scheme promoter asap. We have the expertise to deal...
  14. Replies
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    23,961

    I haven't heard that they've stopped trading, and...

    I haven't heard that they've stopped trading, and gossip like that normally spreads around the IOM like wildfire.
  15. Replies
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    I think you need to do a bit more research into...

    I think you need to do a bit more research into how factoring actually works. You're on the hook for all of the money unless you take out very expensive bad debt protection, and normally they won't...
  16. Replies
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    As others have said, there's no reason a...

    As others have said, there's no reason a factoring company will have any more success chasing your money than you will. Sounds like the problem is with the client.
  17. Ever tried doing that for Contractor UK as a...

    Ever tried doing that for Contractor UK as a matter of interest?
  18. Replies
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    1,491

    It wouldn't be worth your while, for a couple of...

    It wouldn't be worth your while, for a couple of reasons:

    Firstly, the company might be offshore, but you presumably would still be in the UK, and therefore UK tax resident, and therefore your...
  19. Replies
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    2,114

    Start by getting a decent accountant. Which is...

    Start by getting a decent accountant. Which is probably difficult in itself if you've not much spare cash.

    Then it's really just a case of working how much you'll be taking home, and trying to...
  20. Replies
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    23,961

    I just find it odd that you don't appear to know...

    I just find it odd that you don't appear to know the means by which Bedouin have been paying you for the last 6 months. And that rather than trying to find out, you've joined CUK to start a thread...
  21. Replies
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    23,961

    We don't operate an employee based scheme at all....

    We don't operate an employee based scheme at all. But anyway, we were talking about you and the scheme you signed up to.
  22. Replies
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    23,961

    It's probably more likely that it's a loan direct...

    It's probably more likely that it's a loan direct from the company. It's what most companies who are still offering employed solutions are doing. Either way the poster involved should know.
  23. Replies
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    You signed up to something important like this...

    You signed up to something important like this and you don't understand how it works? Honestly?
  24. Replies
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    4,326

    There are details at...

    There are details at http://cdn.hm-treasury.gov.uk/autumn_statement_2012_complete.pdf but they're not very interesting. Or the slightest bit concerning, which is nice.
  25. Thread: breeze

    by Vallah
    Replies
    247
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    53,330

    The fees for counsel opinion are paid for at the...

    The fees for counsel opinion are paid for at the beginning of the year and updated on an annual basis following changes of opinion. We discuss this fully with prospective customers. They can do...
  26. Thread: breeze

    by Vallah
    Replies
    247
    Views
    53,330

    Fees for legal counsel and trustee fees are...

    Fees for legal counsel and trustee fees are merely our overheads alongside things like postage and head office salaries, there isn't a set percentage deducted from the contractors atrributable to...
  27. Thread: breeze

    by Vallah
    Replies
    247
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    53,330

    Which part of "10%" was unclear to you?

    Which part of "10%" was unclear to you?
  28. Thread: breeze

    by Vallah
    Replies
    247
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    53,330

    Sorry, you weren't expecting a sensible answer to...

    Sorry, you weren't expecting a sensible answer to your childish questions were you?

    On the question of revenue breakdown, it varies slightly from person to person, but 10% as DR suggests would be...
  29. Thread: Rangers FC

    by Vallah
    Replies
    10
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    2,099

    If you read the judgement in the case at the...

    If you read the judgement in the case at the following link

    http://www.financeandtaxtribunals.gov.uk/judgmentfiles/j6851/TC02372.pdf

    the tribunal concludes that even though the loan doesn't...
  30. Thread: Rangers FC

    by Vallah
    Replies
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    2,099

    I think the BBC Scotland business correspondent...

    I think the BBC Scotland business correspondent is entirely mistaken. The loans are from a trust, and not the company which owes the money. The only people who can recover the loans are the...
  31. Thread: breeze

    by Vallah
    Replies
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    53,330

    Lots of extremely sane and intelligent people do...

    Lots of extremely sane and intelligent people do exactly that though.
  32. Replies
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    Yes, very interesting that. Full judgment...

    Yes, very interesting that.

    Full judgment here:

    http://www.financeandtaxtribunals.gov.uk/judgmentfiles/j6851/TC02372.pdf

    and it contains the following quotes:

    "The extent of the...
  33. Replies
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    This sounds balanced......

    This sounds balanced......
  34. Replies
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    No, not really.

    No, not really.
  35. Replies
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    As a moderator shouldn't you be above this sort...

    As a moderator shouldn't you be above this sort of comment? I've suffered bans from one of your colleagues for far less.
  36. Replies
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    No, I am not arguing that self-employed schemes...

    No, I am not arguing that self-employed schemes cannot be closed by legislation. I am arguing against your assertion that they could be retrospectively included in the legislation that shut down...
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    I think it would be a huge step, seeing as the...

    I think it would be a huge step, seeing as the legislation specifically mentions employment income. That wouldn't require clarification, it would need a complete rewrite of the income tax...
  38. Replies
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    You're mixing up a lot of terminology there. Of...

    You're mixing up a lot of terminology there. Of course self employed schemes get round disguised remuneration legislation, as the legislation only affects employees. And even if they do go after...
  39. Replies
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    Why? The Montpelier/BN66 case doesn't have...

    Why? The Montpelier/BN66 case doesn't have anything to with the use of EBTs, and HMRC would find it impossible to attack EBTs retrospectively.
  40. Replies
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    You have nothing to fear from an enquiry into an...

    You have nothing to fear from an enquiry into an EBT scheme as long as it was run properly. Whose scheme were you using?

    edit: sorry, just saw the above, Norla.
  41. Thread: breeze

    by Vallah
    Replies
    247
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    53,330

    Because there's a fee for their service?

    Because there's a fee for their service?
  42. "Bank charges" maybe?

    "Bank charges" maybe?
  43. Only in the same way that a Yugo is the same...

    Only in the same way that a Yugo is the same concept as a BMW. 'Concept' isn't what you want in cases like this, it's careful legal planning, and Rangers got theirs horribly wrong. I can't comment...
  44. That wasn't anything to do with Premier.

    That wasn't anything to do with Premier.
  45. Somehow I don't think that RSM Tenon (7th biggest...

    Somehow I don't think that RSM Tenon (7th biggest firm of accountants in the UK) have mysteriously disappeared at all.
  46. Thread: breeze

    by Vallah
    Replies
    247
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    53,330

    Didn't Phil say that they are disclosing the...

    Didn't Phil say that they are disclosing the scheme and that HMRC therefore couldn't impose fines? I can't be bothered going back through all the pages to check.
  47. Replies
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    What you do and don't do is largely irrelevant...

    What you do and don't do is largely irrelevant here isn't it? If someone has signed up to a service that promises to submit all company returns, then they have very right to expect that all company...
  48. Replies
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    The email above doesn't say "all accounting...

    The email above doesn't say "all accounting returns", it says "all company returns". Are you arguing that the Companies House return isn't a company return?
  49. Thread: breeze

    by Vallah
    Replies
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    53,330

    Lisa was talking about cases that were concerning...

    Lisa was talking about cases that were concerning EBTs.
  50. Thread: breeze

    by Vallah
    Replies
    247
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    53,330

    There's the recent Rangers case, but that seems...

    There's the recent Rangers case, but that seems to have fallen down on the fact that the contracts were't drafted properly, ie that it was written into the players' contracts that the loans wouldn't...
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