I had a phone called from these guys the other day suggesting they could save approximate 10-15% off of my tax bill. I was curious as to whether or not the loan scheme thing was still going on so decided to listen up.
I didn't catch everything because the guy explained it in a whirlwind rush and then followed up with 0 details other than a financial breakdown. However, it sounded as if these accountants were breaking down payments into 4 each month: Salary, Expenses, Advances and something else I can't remember. Either way, the advance payment wasn't a loan as such, and was based on your contract rate.
Obviously I didn't take them up on their kind offer, I mentioned it sounded like a loan scheme and even if it wasn't, HMRC would be along eventually. Their response? "It's been fine for five years but, you could just put the difference in pay into an ISA in case they come after you" - yeah... Great mitigation...
Anyone else heard of anything similar?
I didn't catch everything because the guy explained it in a whirlwind rush and then followed up with 0 details other than a financial breakdown. However, it sounded as if these accountants were breaking down payments into 4 each month: Salary, Expenses, Advances and something else I can't remember. Either way, the advance payment wasn't a loan as such, and was based on your contract rate.
Obviously I didn't take them up on their kind offer, I mentioned it sounded like a loan scheme and even if it wasn't, HMRC would be along eventually. Their response? "It's been fine for five years but, you could just put the difference in pay into an ISA in case they come after you" - yeah... Great mitigation...
Anyone else heard of anything similar?
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