Sanzar Partnership? New IOM company

[ASB]

That's pretty much spot on. And HMRC have to give notice to change the DTA by sometime in June in advance of the following tax year so it can't now be changed for 08/09 and if there is no notice given this June it will continue through to April 2010.

Ok, now hypothetically this change to the DTA is announced and goes through. [The reality I suspect might be that there would be a huge fight about it since it is bilateral and the IOM would not like to see change].

April 2010 comes along and therefore the "scheme" is ineffective. What exposure does one have?

Is this an arrangement in accordance with the recent disclosure rules? Does this mean that HMRC could then attempt to go back to the start of the disclosure rules and charge the trust income to UK taxes ?

If so this is a fairly substantial risk - but on the other hand even with the anti avoidance legislation it would seem a bit perverse because the DTA was in force during the period it provided the benefit.

[Lewis]

So out of interest, what support do Montpellier, Sanzar etc.. give their clients that get contacted by HMRC? Do they take on all the communication or provide advice. I assume they don't leave contractors to their own devices.

[BrilloPad]

So out of interest, what support do Montpellier, Sanzar etc.. give their clients that get contacted by HMRC? Do they take on all the communication or provide advice. I assume they don't leave contractors to their own devices.

montpelier do ALL communication. forbidden to deal with them direct.

[kryten22uk]

I dont see why these firms wouldnt fight it in the courts for you. It is in their interests to do so. If they were to leave someone in the lirch then word would get out and their entire business would leave over night.

I decided to take on the risk and I'm in the final stages of transferring my contracts. I tried to correspond with Montpellier, but they're obviously rich enough already as they wont respond. I spoke to Sanzar and TaxDesign and went for the latter, as they're almost identical except that the latter takes 5% less cut.

[shoes]

given the growing intensity of the attacks on our business by HMRC in their attempts to close off these kinds of schemes by other means, and the impression they give that anyone who wants to go contracting is doing it so as not to pay any tax at all, you'll forgive me thinking that the actions of a 'clever' few are royally f***ing it for everyone else.

This total avoidance action that contractors are taking is in response to HMRCs heavy handed and stupid attacks on the freelance community. They bought it on themselves, the gloves are quite rightly coming off. Why have the uncertainty of poorly draughted IR35 legislation hanging over your financial future when (seemingly) more bomb proof methods of getting your deserved reward for your risk taking are available? HMRC have driven the contractors who are doing this into taking this action. Before they started on us they were getting a reasonable tax take from us. In being greedy in their clumsy attempts at getting more they are encouraging us to batten down the hatches and fight them off so they get nothing.

It didn't have to be this way, they have made it so with their combative attitude.

[malvolio]

This total avoidance action that contractors are taking is in response to HMRCs heavy handed and stupid attacks on the freelance community. They bought it on themselves, the gloves are quite rightly coming off. Why have the uncertainty of poorly draughted IR35 legislation hanging over your financial future when (seemingly) more bomb proof methods of getting your deserved reward for your risk taking are available? HMRC have driven the contractors who are doing this into taking this action. Before they started on us they were getting a reasonable tax take from us. In being greedy in their clumsy attempts at getting more they are encouraging us to batten down the hatches and fight them off so they get nothing.

It didn't have to be this way, they have made it so with their combative attitude.

You should have been at the meeting between HMRC and a selection of people potetnially affected by their lastest Family Business Tax. I don't think Hector was the more agressive party by a long way.

They still seem determined to ignore the reulsts of the consultation though. Look forward to a long series of appeals against any attempt to collect this particular tax - and look for some other high-profile "discussions" coming soon...

[2uk]

I only started with the IOM company in April 2006 - so tax return not even in until Jan 2008. Several people are in scheme - for up to 5 years. One person never challenged once in 5 years. Others challenged for just some years.

I have 3 options IF I get challenged :-
1. Make payment on account as you have
2. Wait for final decision and go bankrupt if it goes wrong
3. Go abroad - which I might do anyway.

If I get challenged I might create a poll...

You mean settle in some unknown village and hide your identity ? ( I have only reached the first third of this thread ... keeping reading.. )

[BrilloPad]

You mean settle in some unknown village and hide your identity ? ( I have only reached the first third of this thread ... keeping reading.. )

I was thinking of anywhere outside the European Union - either HK or Sydney. HMRC can't touch me there.

keep reading!

[ASB]

I was thinking of anywhere outside the European Union - either HK or Sydney. HMRC can't touch me there.

keep reading!

Don't know about HK but HMRC can certainly have a go if you are in Aus - I think they even now have some powers to directly sequester your bank accounts there. Whether they would bother is of course different but from a taxation point of view the world is shrinking.

[BrilloPad]

Don't know about HK but HMRC can certainly have a go if you are in Aus - I think they even now have some powers to directly sequester your bank accounts there. Whether they would bother is of course different but from a taxation point of view the world is shrinking.

Do you have a link for this? I cant imagine that any country outside EU(and even inside EU it would be hard) would have anything to do with a UK court order.

And of course they have to find me first...