Considering an Umbrella Scheme?

[LordF]

If you are considering an umbrella scheme/tax avoidance scheme of any sort, please do your homework/due dilligence first and also ensure you get Tax Investigation Insurance before it is too late. Dont be blinded by the ££££s.

I have just had a letter from the HMRC stating that they will be looking into my income from an Umbrella Scheme as detailed in my tax return of last year.

Lordf

[TheFaQQer]

Did you do anything that you shouldn't have done?

Are the umbrella company giving you any advice / guidance on this? I'd expect that they should, but maybe with a bit of slopey-shoulders if things get sticky.

[LordF]

Did you do anything that you shouldn't have done?

Are the umbrella company giving you any advice / guidance on this? I'd expect that they should, but maybe with a bit of slopey-shoulders if things get sticky.

No - nothing I should not have done.

They have had the letter for 1 working day and no response as yet. Spoke with them yesterday and they said send us the letter and we will look into it. Its worth their while to help, as it is their scheme that is being looked into, not just me and my tax return.

[TheFaQQer]

Its worth their while to help, as it is their scheme that is being looked into, not just me and my tax return.

Unfortunately, they can always shift all the blame onto you - it's nothing to do with them, really, since you are just an employee.

Best of luck with it, though.

[Alan @ BroomeAffinity]

IMO nobody should get involved in an umbrella scheme if they can avoid it. Get your on ltd co and a decent accountant who knows the contractor market and you're laughing.

[Bluebird]

correct advice.