Offshore tax avoidance schemes

[ASB]

My guess is that if the scheme relies on the double-taxation treaty, it doesn't matter if the income is taxable or not under UK law (whether as a result of IR35 or otherwise) as the treaty over-rides UK law.

Yes, that would probably do it wouldn't it. In order for IR35 to kick in you have to be entitled to income not subject to PAYE. The trust time income I guess is for the purposes of that legislation.

[dude69]

Where did you find the Montpelier info? Was it online or what they sent you? I've been trying to get hold of them as I cant find any decent info on their site, but they dont respond. I'm pretty much finished joining TaxDesign but it doesnt mean I cant swap to Montpelier if its a better run scheme.

I acquired it. You register as self-employed, earn £20k, and pay NI and IT on that minus expenses (say £6k), and pay NI and IT on that. The spreadsheet I have been given has NI has 11% which I don't understand - the self-employed rate is 8%. And then 10% of annual gross goes to Montpelier, with £1k setup charge. £250 Isle of Man CT. You keep everything else (no tax on offshore trust payment for balance).

[kryten22uk]

I acquired it. You register as self-employed, earn £20k, and pay NI and IT on that minus expenses (say £6k), and pay NI and IT on that. The spreadsheet I have been given has NI has 11% which I don't understand - the self-employed rate is 8%. And then 10% of annual gross goes to Montpelier, with £1k setup charge. £250 Isle of Man CT. You keep everything else (no tax on offshore trust payment for balance).

Cool, thanks. Sounds almost identical to mine then.


P.S how many posts is it before I dont need moderators review?