BN66 - Time to fight back!!!

[Likely]

Actually how it worked was

I worked for a UK company(e.g. Newquay Professional). A contract between agency and them for my services. I was paid a salary which was fully taxed.

Newquay took the rest of the money, kept some as a fee and put it into the partnership run by Monp. As a member of the partnership I was entititled to a share (tax free).

So the money that the agency pays to Newquay is irrelivent since it has nothing to do with me. I was just a self employed person providing services to Newquay.

Incidently; the newquay equivilant that I was through closed down last summer.

Oh, and I type fast so no smart arse

Did they tell you to declare the share you receive from the partnership on your tax Self Assessement form ?

[Lewis]

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.

There was a thread a few months ago about loan schemes, another point raised was that the loans might become a BIK that you have to pay forever once you leave the scheme ... http://forums.contractoruk.com/accou...an-scheme.html

A collegue here is on something like this. He said the scheme glossed over this but eventually when he kept asking they said something vague like the loan did become a BIK when written off but that they didn't need to record it as they would no longer be his employer.

[BrilloPad]

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

Absolutely! IMO Mal gets a very bad press(like most contractors?). He is terse - but who wants to read long posts? It seems to be a case of shoot the messenger sometimes.

I propose three cheers for Mal for making us think. Who will join me?

[BrilloPad]

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.

Though I am reconsidering since the scheme changed. Also remember my personal position is alot different from others - have you read any of my f4j threads or the ones about my divorce?

I dont expect everyone to agree with me - and an insight into the likely lines of attack that HMRC will use is helpful.

[zakzak]

I might be repeating

the MTM vs Jones & morris case was re-scheduled for september.......cos........can you guess why........NO well let me tell you.....

trial date was for this july (as you know) but jones got it vacated claiming with a medical report that he is "nuts " suffering from bi polar sydrome and unable to stand trial.

Whats that all about?

Sorry if you know this however cant bothered to read all thread

[DonkeyRhubarb]

Though I am reconsidering since the scheme changed. Also remember my personal position is alot different from others - have you read any of my f4j threads or the ones about my divorce?

I dont expect everyone to agree with me - and an insight into the likely lines of attack that HMRC will use is helpful.

This wasn't intended as a dig at you. I just don't appreciate being labeled as an "arrogant twat" when I quit the scheme many years ago and my motivation for joining wasn't to pay f*ckall tax but to avoid IR35. Actually I am surprised these schemes have carried on for so long when Ltd Co seems a much safer bet these days.

[smalldog]

This wasn't intended as a dig at you. I just don't appreciate being labeled as an "arrogant twat" when I quit the scheme many years ago and my motivation for joining wasn't to pay f*ckall tax but to avoid IR35. Actually I am surprised these schemes have carried on for so long when Ltd Co seems a much safer bet these days.

I agree wholeheartedly.....IR35 sent a lot of us into a flat spin and we HAVE paid tax, every year...IF I was offered the same deal now I know what I know, then I would have stuck with my Ltd co, but hindsight is a marvellous thing and IR35 avoidance was a total unknown....I have handed over £4k per year to HMRC for the 5 years IVe been in the scheme...hardly F**k all is it...

[BrilloPad]

This wasn't intended as a dig at you. I just don't appreciate being labeled as an "arrogant twat" when I quit the scheme many years ago and my motivation for joining wasn't to pay f*ckall tax but to avoid IR35. Actually I am surprised these schemes have carried on for so long when Ltd Co seems a much safer bet these days.

I took no offence atall - my post was just an explanation.

[BrilloPad]

I agree wholeheartedly.....IR35 sent a lot of us into a flat spin and we HAVE paid tax, every year...IF I was offered the same deal now I know what I know, then I would have stuck with my Ltd co, but hindsight is a marvellous thing and IR35 avoidance was a total unknown....I have handed over £4k per year to HMRC for the 5 years IVe been in the scheme...hardly F**k all is it...

In this case being last in was an advantage. For f4j being first in was an advantage. In the earlier demos few got arrested. No publicity and no creating martyrs. Later on they started making examples of people with some very heavy handed stuff.

I dont know what I would do in your shoes - but I still think Mal is helping us out here....

[smalldog]

In this case being last in was an advantage. For f4j being first in was an advantage. In the earlier demos few got arrested. No publicity and no creating martyrs. Later on they started making examples of people with some very heavy handed stuff.

I dont know what I would do in your shoes - but I still think Mal is helping us out here....

I am considering of emigrating. Not just cos of this just cos Im pretty sick of the UK to be honest. Its going downhill IMHO in a lot of areas. If it isnt Tax rises, its violent crime, fuel costs, education system etc etc etc....The government dont seem to grasp the fundamental problem, if they reduced taxes they would actually get more. Its common sense, people wouldnt avoid paying it in the first place if it was judged reasonable. If they hadnt introduced IR35 they would have been getting £30k per year out of me in corp tax and dividend taxation. They just keep shooting themselves in the foot by trying to strangle people for more money who inturn become more inventive in ways of not paying....They perpetuate this stupid situation.

I for one am not an advocate of the 40% band, if everyone was on a flat rate then high earners by the very nature of earning more would pay more than low earners as its a %. No doubt someone will start on about taxes needed for all our good for public services this and that....tax havens manage quite nicely thanks, Im not saying the UK should be one but there need to be some limits...right now it seems to be grab, grab grab and seems to be getting worse!