Dignatio CFP scheme

[dcbluemoon]

Re: watch out for this guy

Well, they went bust last week taking a rather large amount of a fair few contractors cash with them... I should have heeded the warnings doh!

[shaunbhoy]

Re: watch out for this guy

"taking a rather large amount of a fair few contractors cash with them"

Not ******* yet they haven't!!!

Grrrrrr!

[RAC Contracts]

CFP Liquidation

Does anyone have any factual inside knowledge of why this company has gone into liquidation?

Now that they have gone under, does anyone have a recommendation for an alternative company running a similar scheme?

[planetit]

Re: CFP Liquidation

What, a similar scheme to the one that has just gone bust? Rumoured (by an accountant on this board) to be because the taxman was on to them?

Well, funnily enough, no I don’t.

[Boiler Spoiler]

Re: CFP Liquidation

OMGawd

"People not learning by their previous mistakes shocker"

I can just see the headline in The Sun now.

I remember a while ago, on this board, one of the resident accountants was being slated by you lot for stating this scheme was a bit iffy.

And now your thinking of looking at another one?!?!?!?!

[freshblue]

Are u mad?

RAC - either run a true limited company and defend your corner on ir35 or use a bog standard umbrella. Any ebt scheme is (imo) a red rag to a red (Hector) bull, especially those that state "avoid ir35".

[ukcontract01]

Dignatio / EBTs

Dignatio looked iffy from the start - I suspect that they didn't actually have a genuine EBT set up - nor a foreign bank or foreign currency broker

Inland Revenue would soon realise this - and disallow transactions with connected companies/ficticious transactions - hence presenting Dignatio with a massive Corporation Tax bill they couldn't pay and so go bust

EBTs are legal/viable (correctly set up with professional/reputable trustees)

Just as one iffy company folds - along comes another - just try getting the trustees details from Norla Consulting - with any umbrella company just ignore the sales patter and check out credentials of accountants/trustees - if the info isn't forthcoming - don't join up

[tim123]

Re: ukcontract01

.....Inland Revenue would soon realise this - and disallow transactions with connected companies/ficticious transactions - hence presenting Dignatio with a massive Corporation Tax bill they couldn't pay and so go bust.

Um, don't you think that perhaps this is exactly what has just happened? ISTM to be the most plausable of the possibilities.

Tim

[Magoo]

Re: ukcontract01

They havent gone bust Tim. They need to be financially solvent in order to go into voluntary liquidation.

However, they may have been presented a large corp tax bill (or whatever) and decided the only means of paying it is with the EBT (That part may well have been a scam). It'll be interesting to find out how many people get their money in a couple of weeks time.

[Safe]

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