Lambard Wealth

[Zeppelin]

Hi.

I'm still fairly new to contracting and would appreciate any advice on this please. (I have a Ltd Co formed with full accountancy services in place). I've been approached by Lombard Wealth in relation to a Corporate Tax Planning Strategy product they manage through which its claimed I could attain "take home salary" of 89.7%. The main principles seem to be taking a minimum salary of £833 / month with the remainder going to a Trust fund from which I could take further earnings as and when it suits. The product also claims to avoid or substantially reduce liability for Corporation Tax, presumably as actual earnings are minimal.

Does anyone have experience of such a scheme and/or Lombard Wealth and if so would they recommend it?

Thanks.

[TykeMerc]

http://forums.contractoruk.com/umbre...ml#post1920035

Thread you previously created asking the same question.........

If you use a scheme be fully prepared to be brutally assaulted over a period of many years by HMRC. Anyone stupid enough to sign up for a scheme now quite honestly needs their head read.

You were told that before and it's even more true now.

[northernladuk]

Some people just won't be told. Obviously that percentage is far to high for him to ignore so he's looking for someone to say yes... Idiot.

[TykeMerc]

Ok, yes fill your boots, you can probably find a higher return scheme out there if you make an effort.

For that matter for a mere 10% of your daily rate I can guarantee your 90% retention rate, sign up to the new Tyke scheme I'm just incorporating now, you can trust me when you sign your earnings over to my care.........




p.s. I might, just possibly be taking the mickey. Please sign upto some scheme now then come screaming to us for support when HMRC attack you, it will give us all a laugh that someone could be so unbelievably dim.

[cojak]

Fine if you're prepared to take a gamble that HMRC won't bankrupt you when they catch you.

Anyone picking up this kind of scheme from now on is going to be rather harshly dealt with.

[SlipTheJab]

http://forums.contractoruk.com/umbre...ml#post1920035

Thread you previously created asking the same question.........

If you use a scheme be fully prepared to be brutally assaulted over a period of many years by HMRC. Anyone stupid enough to sign up for a scheme now quite honestly needs their head read.

You were told that before and it's even more true now.

Oh dear oh dear

[SueEllen]

H

Does anyone have experience of such a scheme and/or Lombard Wealth and if so would they recommend it?

No I wouldn't recommend it and neither would these people

This is why trying to promote your scheme on these boards won't work....

[DonkeyRhubarb]

Anyone joining a scheme should also join this as well. It only costs £50 and you will almost certainly need it.

http://forums.contractoruk.com/hmrc-...big-group.html

[LisaContractorUmbrella]

Hi.

I'm still fairly new to contracting and would appreciate any advice on this please. (I have a Ltd Co formed with full accountancy services in place). I've been approached by Lombard Wealth in relation to a Corporate Tax Planning Strategy product they manage through which its claimed I could attain "take home salary" of 89.7%. The main principles seem to be taking a minimum salary of £833 / month with the remainder going to a Trust fund from which I could take further earnings as and when it suits. The product also claims to avoid or substantially reduce liability for Corporation Tax, presumably as actual earnings are minimal.

Does anyone have experience of such a scheme and/or Lombard Wealth and if so would they recommend it?

Thanks.

Did you mean Lambard Wealth rather than Lombard Wealth??? The latter seems to be a multi National Asset Management firm whereas the former seems to be a dodgy scheme for contractors promising an 85% take home.

Either way - you take home 89.7% which leaves 10.3% of your income - from this the scheme provider will take approximately 5-8% which leaves somewhere between 5 and 3%. Can you think of any situation where HMRC would be happy to get 3-5% tax??? Income tax base rate is 20%, corporation tax is 20%, capital gains tax base rate is 18%, the starting rate of tax on Trust income is 20% etc etc https://www.gov.uk/government/public...ds-for-2015-16. Therefore, one must assume that the product being offered is a tax avoidance scheme......like these HMRC Scheme Enquiries

[vadhert]

You could send me all your money and I will send 99% of it back.

How does that sound?

Sign on the dotted line below


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