One for the 90% take home pay crowd

[TheFaQQer]

HMRC Spotlight 26: Contractor loan schemes - too good to be true

1. If a promoter says that if you join their scheme you can take home between 80% to 90% of your income - it’s too good to be true

2. If a promoter claims that the schemes are HMRC approved - it’s too good to be true

3. If a promoter tells you that you don’t have to declare the scheme - it’s too good to be true

[cojak]

They can't hear you for the £££ signs in front of their eyes.

[LisaContractorUmbrella]

And this https://www.gov.uk/government/upload..._Avoidance.pdf - the nasty things that will happen to you if you didn't listen to the warnings

[DonkeyRhubarb]

It's a shame they didn't do more years ago when it was already getting out of hand.

And what about getting tougher on the promoters? It's a strange state of affairs where only the buyers are penalised, not the sellers.

[SantaClaus]

Of course, ignore all the above if your name is Amazon, Starbucks or you have friends in high places.

[BrilloPad]

Tempted by tax avoidance?

And there was I thinking that avoidance was legal.

Of course HMRC want to define some avoidance as legal and some illegal. And therein lies the problem.

"The vast majority of people in the UK don’t try to avoid tax: they pay the tax they owe when it is due and don’t try to bend or break the rules. "

Utter rot. Everyone tries to avoid tax. But the vast majority of people don't try to evade tax.

[SueEllen]

Tempted by tax avoidance?

And there was I thinking that avoidance was legal.

Of course HMRC want to define some avoidance as legal and some illegal. And therein lies the problem.

"The vast majority of people in the UK don’t try to avoid tax: they pay the tax they owe when it is due and don’t try to bend or break the rules. "

Utter rot. Everyone tries to avoid tax. But the vast majority of people don't try to evade tax.

I'm tempted by tax avoidance every time I put money into my pension or ISA....

[darrylmg]

I'm tempted by tax avoidance every time I put money into my pension or ISA....

I'm tempted by tax avoidance every time they ask if I would like to take away instead of eating in.

[northernladuk]

I'm tempted by tax avoidance every time I put money into my pension or ISA....

An ISA is not avoidance. The ISA is a scheme set up by the Government to encourage people to save or invest.

[MercladUK]

An ISA is not avoidance. The ISA is a scheme set up by the Government to encourage people to save or invest.

Yes it is, you have a choice

Standard savings accounts etc or a Tax Free ISA account thereby avoiding the tax normally payable on savings.