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Thread: Tax Devil

  1. #1

    Nervous Newbie


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    Post Tax Devil

    Hi, new to this but has anyone encountered Tax Devil? Basically the offering is you are set up as an employee with minimal salary being processed under PAYE, and the rest going through a remuneration trust. They claim to have won a HMRC challenge in 2010, and have Insurance indemnifying you in the event of an enquiry.

    Any opinions on this?

  2. #2

    Umbrella Queen

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    Can't find reference to them on Companies House or DueDil which is not a good sign.The are promising 90% take home and there are loads of threads on here about that!

    They may have won against HMRC in 2010 (although I would ask for evidence) but things have changed a bit since then - Google 'Onshore Employment Intermediaries'; 'False Self Employment' 'Disguised Remuneration Legislation' and BN66. If reading through that lot doesn't put you off then I can only wish you the very best of luck.
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  3. #3

    Nice But Dim

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    Quote Originally Posted by Hermione View Post
    Any opinions on this?
    Yep.
    "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

  4. #4

    Still gathering requirements...


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    Quote Originally Posted by Hermione View Post
    Hi, new to this but has anyone encountered Tax Devil? Basically the offering is you are set up as an employee with minimal salary being processed under PAYE, and the rest going through a remuneration trust. They claim to have won a HMRC challenge in 2010, and have Insurance indemnifying you in the event of an enquiry.

    Any opinions on this?
    Hermione - Remuneration Trust vehicles for contractors are dead. You are essentially painting a very large target on your back for HMRC and they will quite happily kick you with it - Tax Devil will quite happily take your money, promise the world (we will cover all legal fees, we have insurance that will cover you against investigation blah blah) and then simply disappear into the ether, leaving you with a rather large tax bill.

    Have a read through the HMRC Scheme Enquiries threads.. These are all remuneration trust based arrangements, they are all backed by QC opinion, they were all marketed in exactly the same way as "legal".. but HMRC are gunning for these and will soon have the ability to make you pay up front the disputed tax where they believe the arrangement is a synthetic one set-up purely to avoid tax.

    Its your choice, personally I wouldn't touch it (having been burned from using an EBT 4 years ago). But some points - You need to be very aware of how the arrangements work; you should get these arrangements independently verified by your own tax advisor; you need to be fully versed with HMRC's GAAR and understand whether this could apply to your arrangements.

    and lastly, if you engage in this type of arrangement, expect it to be challenged, expect an investigation and possible assessment - and then expect either an Accelerated Payment Notice or potential Follower Notice, followed by a lengthy and expensive dispute process.

    Your call..

  5. #5

    Faqqed Off

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    Quote Originally Posted by Hermione View Post
    Any opinions on this?
    The 90% they can get you is higher than the 82% that you said you got with Rousseau International two years ago, so it must be an improvement. Go for it and let us know how it turns out.
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  6. #6

    Super poster

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    I've just received the spam email from contractjobs.com. Wouldn't touch it with a barge pole and will need to make sure I'm removed from that website now.
    Last edited by Batcher; 20th May 2014 at 11:29. Reason: spelling

  7. #7

    Old Greg is my bitch

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    Quote Originally Posted by TheFaQQer View Post
    The 90% they can get you is higher than the 82% that you said you got with Rousseau International two years ago, so it must be an improvement. Go for it and let us know how it turns out.
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  8. #8

    Nice But Dim

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    While you are still here you might want to ask them why they are currently breaking UK Law by not having their registered company information available on the webste.

    As of 1st January 2007 companies are required to put the following on both their website and business emails:

    • Company registration number
    • Place of registration
    • Registered office address.

    Websites also need to include:
    • VAT number.
    • Company name, postal address and company email address
    • The name of any trade bodies or professional associations that the business is part of, including membership or registration details.
    Last edited by DaveB; 20th May 2014 at 11:41. Reason: typo
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  9. #9

    Faqqed Off

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    Quote Originally Posted by DaveB View Post
    While you are still here you might want to ask them why they are currently breaking UK Law by not having their registered company information available on the webste.

    As of 1st January 2007 companies are required to put the following on both their website and business emails:

    • Company registration number
    • Place of registration
    • Registered office address.

    Websites also need to include:
    • VAT number.
    • Company name, postal address and company email address
    • The name of any trade bodies or professional associations that the business is part of, including membership or registration details.
    The domain is registered to an individual, so maybe they aren't a limited company, just a sole trader. Which would fill me with confidence.
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  10. #10

    Nice But Dim

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    Quote Originally Posted by TheFaQQer View Post
    The domain is registered to an individual, so maybe they aren't a limited company, just a sole trader. Which would fill me with confidence.
    But that hardly chimes with the desiption on the website!

    They must have loads of people and offices, they've been in business for years and they've got all these wonderful tax solutions. They even want you to come and meet them for a drinks!

    Quote Originally Posted by Tax Devil
    Give us a ring or come to see us – we love meeting in person to talk through our solutions face-to-face. We even hold drinks evenings so you can meet us and other contractors.
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