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Dignatio CFP scheme

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    #21
    Dignatio

    like I said:

    I went with Dignatio:

    1) It was apparent that they were not operating the scheme they said they did - The bank they say existed didn't
    2) They didn't ever have any forward contracts with which you indenpendently verify
    3) There scheme they said they had didn't exist - I took all my money and ran - the sale guy Stuart Little did a presentation and I thought he was lying through his teeth. I'm pretty sure hes the man behind this hold scheme.
    4) I have the directors address if anybody would like it (via companies house)- If you have outstanding monies then you could write to them

    Jason

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      #22
      Dignatio

      What do you think the chances are of Inland Revenue coming after us (ie the contractors that have used the scheme) for the additional PAYE and NI?

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        #23
        IR

        Slim, but they can. Hopefully they will make an example out of the Dignatio directors and take them to the cleaners. It would be expensive and time-consuming for the IR to pursue this throughly, but they can. I am really annoyed that Dignatio have put this many people in this position

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          #24
          Re: IR

          IIRC, there's only one director and he is not a UK citizen, so may be outside the IR's reach. And there is a principle in law somewhere about artifical financial constructs used to step around paying tax.

          Ex-Dignatio clients (among others, of course) are not safe yet, not until 2022. The IR rights of investigation can go back for 20 years.

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            #25
            Re: IR

            They can only go back 20 years if they suspect fraud, and this really would not apply to the contractors.

            I reckon you have a fair chance of getting investigated - it is fairly easy pickings for the Revenue unless someone has investigation insurance (which is very unlikely for this sort of scheme)

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              #26
              Re: IR

              Simon,
              What is the basis of your opinion?
              From what I have read, Dignatio went down because of a large corporation tax bill and not because of the mechanics of the scheme.

              It is also likely that they will be paying this bill from money that they have not submitted to the EBT which only goes to reinforce the contractors stance with regard to tax laibilities.

              So the legality was never in question. In theory, if Dignatio could persuade its contractors to pay for its mistake, they could still be operating.

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