BN66 - Time to fight back!!!

[BrilloPad]

And even if you win, there will be legislation in the next budget to cancel it out.

eh? let us say we win. they will close the scheme (montp closed anyway). we go elsewhere. Sorted lovely jubly.

[malvolio]

eh? let us say we win. they will close the scheme (montp closed anyway). we go elsewhere. Sorted lovely jubly.

Yeah right.

You can still go to an MSC you know, it's perfectly legal. It's just that they can only you pay you after deducting full PAYE and NICs. Of course, no chance that could happen to offshore income, could it. I mean, they wouldn't even know who to go looking for to pay it...

[BrilloPad]

Yeah right.

You can still go to an MSC you know, it's perfectly legal. It's just that they can only you pay you after deducting full PAYE and NICs. Of course, no chance that could happen to offshore income, could it. I mean, they wouldn't even know who to go looking for to pay it...

I think I would rather go limited and rejoin the pcg. I am thinking about that anyway - I am not entirely convinced about loan schemes. But I am still thinking. I am very stupid and these things take me a while.

[DonkeyRhubarb]

Malvolio

Malvolio -- whose name means "evil-wishing" in Latin

http://isebeta.uvic.ca/Library/SLT/p...elancholy.html

Enough said.

[malvolio]

Malvolio -- whose name means "evil-wishing" in Latin

http://isebeta.uvic.ca/Library/SLT/p...elancholy.html

Enough said.

Hey, well done. It's only taken you 5 years to work that one out...

The point is, and it is a subtle one but nevertheless valid, that I don't actually mean anyone any harm and I'm not out to make anyone look stupid; after all, quite a few do that all by themselves. The aim is to make people think and consider all the angles - and that includes understanding just what it is they are opposing.

Brillo understands where I'm coming from, even if he doesn't agree with me: perhaps you should listen to him...?

[max]

I am not entirely convinced about loan schemes. But I am still thinking. I am very stupid and these things take me a while.

The "loan" scheme is certainly a step change from what seems to be the "normal" tax arrangement.

Typically on, say a normal city rate of £150,000, how much tax would be paid, using a scheme like this?

[DonkeyRhubarb]

Hey, well done. It's only taken you 5 years to work that one out...

I've only been registered since March.

Brillo understands where I'm coming from, even if he doesn't agree with me: perhaps you should listen to him...?

I'm surprised you would cite Brillo as he's one of the very few on this forum who persists with the scheme. I left nearly 5 years ago as soon as the enquiries started.

If I could turn the clock back I would have stuck with my Ltd Co but back in 2001 this seemed even more risky. I know someone personally who was investigated over IR35 and it wasn't pretty. Also, I will admit that at the time I was pissed off with the government and was happy to stick 2 fingers up to them. With the benefit of hindsight I probably would have thought twice.

I'm sure you are probably an OK guy but can you see it from our position? Even if a few of us do what you think is the "right thing" it isn't going to stop MTM pursuing this through the courts, as they are representing at least 1600 people. We are where we are and all we can do is wait and see how it turns out.

IMHO, I can't understand why anyone would use a scheme now when IR35 is so well understood, and it is relatively straightforward to operate outside it and insure yourself against being investigated. But things were very different 7 years ago.

By the way, are you a fellow sheep shagger?

[helen7]

Problem with the loan scheme's is that you do not have any right to your money.

The organisers of the scheme could easliy recall all the loads and p*ss off with all your money, you would have no legal come back since if you had any entitlement to the money you would pay tax and NI.

[smalldog]

Hey, well done. It's only taken you 5 years to work that one out...

The point is, and it is a subtle one but nevertheless valid, that I don't actually mean anyone any harm and I'm not out to make anyone look stupid; after all, quite a few do that all by themselves. The aim is to make people think and consider all the angles - and that includes understanding just what it is they are opposing.

Brillo understands where I'm coming from, even if he doesn't agree with me: perhaps you should listen to him...?

how patronising! gee errrr thanx u superior being...

[malvolio]

By the way, are you a fellow sheep shagger?

Only a pretendy one - I'm from Pembrokeshire originally