Bedouin - anybody come across them?

[nevergoingtopay]

Not at KFC or Maccas, they were at Toast festival. I saw them on Sunday at the Aussie day. Who would want to talk about tax when you're there to sample as many fine Aussie wines, beers and roo burgers as you can fit in? Seemed like a waste of time and money on their part to me.

That's because each person they sign up, they make loads £££! you get 85%, HMRC get 5% and they get 10%....for what buying a few beers?

then when HMRC comes knocking they use that money to fly off leaving you to take the fall.

I have been in a few of these and know some of the people in Bedouin, they are the same people I knew from the other IOM schemes like Steed and ICM.

Take you chances and expect a few years of fun when HMRC come knocking!

[sal626]

That's because each person they sign up, they make loads £££! you get 85%, HMRC get 5% and they get 10%....for what buying a few beers?

then when HMRC comes knocking they use that money to fly off leaving you to take the fall.

I have been in a few of these and know some of the people in Bedouin, they are the same people I knew from the other IOM schemes like Steed and ICM.

Take you chances and expect a few years of fun when HMRC come knocking!

You mentioned you were in this scheme, Have any of your returns been queried? Have any of the providers not provided support against HMRC?

[Fred Bloggs]

You mentioned you were in this scheme, Have any of your returns been queried? Have any of the providers not provided support against HMRC?

Ask yourself this, why would they defend a tax avoidance system against HMRC when they're likely a couple of thousand miles away sat by the pool in Antigua without a care in the world and the tax liability rests 100% with the ex-client?

[sal626]

Well, the fact is – the two schemes that I do know about that are being queried, ARE being defended. The scheme providers are around (i.e. in the UK), as are their tax advisors, etc.

[DiscoStu]

Well, the fact is – the two schemes that I do know about that are being queried, ARE being defended. The scheme providers are around (i.e. in the UK), as are their tax advisors, etc.

Maybe they are being defended. But is it really worth taking the risk of losing for that extra 5-ish percent?

[sal626]

No, not for 5%. (Also, how do you get to 80% with a limited company? The best I’ve managed to do is 70% - maybe I need a better accountant).

Anyway, my point was, that just because an EBT scheme is being offered, it doesn’t necessarily mean that the scheme providers are out to fleece you and will disappear with all your cash at the first sign of trouble. Obviously all providers say they will defend the scheme, but the few I know about are doing what they said – and being quite successful so far.

[Fred Bloggs]

Well, the fact is – the two schemes that I do know about that are being queried, ARE being defended. The scheme providers are around (i.e. in the UK), as are their tax advisors, etc.

Fair enough. How do you know before hand that they will defend it? Anyone can tell you they will. I suspect most will not. I have no idea how you can tell which is which.

[Fred Bloggs]

I have just worked out that my retention is ~77% via my Ltd Co. Not including any gain from the flat rate VAT scheme.

[sal626]

Agreed - no way to tell.

[Gino]

So which are the two that are being defended?