BN66 - Time to fight back!!!

[zippo]

Ctd

DR,

I hear what your saying but the whole thing has dragged on so much already and you never know HRMC may take even longer than a month or two to get the up to date tax assessments.

From what I have seen it cant do any harm to get a CTD and it can always be topped up later if required. I just feel its better to get a CTD sooner rather than later.

If all goes in our favour then the CTD can be cashed in ;-)

Obviously the funds need to be availble to deposit into a CTD.

Zippo

[DonkeyRhubarb]

DR,

I hear what your saying but the whole thing has dragged on so much already and you never know HRMC may take even longer than a month or two to get the up to date tax assessments.

From what I have seen it cant do any harm to get a CTD and it can always be topped up later if required. I just feel its better to get a CTD sooner rather than later.

If all goes in our favour then the CTD can be cashed in ;-)

Obviously the funds need to be availble to deposit into a CTD.

Zippo

Fair point. And on the off chance that you pay too much in now, you can always draw a bit out when you get the assessment.

Once you've covered yourself with the CTD you can just sit back and enjoy the rest of the show.

[DonkeyRhubarb]

Gooner's posts

Has anyone else noticed that for a newbie, Gooner's posts have been appearing very quickly?

I've been working my way back through the recent threads and other new members' posts appear well out of sequence (and often get overlooked) due to the vetting process, but Gooner's seem to pop up much faster.

Just coincidence or a bit fishy?

[BrilloPad]

Has anyone else noticed that for a newbie, Gooner's posts have been appearing very quickly?

I've been working my way back through the recent threads and other new members' posts appear well out of sequence (and often get overlooked) due to the vetting process, but Gooner's seem to pop up much faster.

Just coincidence or a bit fishy?

I say coincidence. Not sure what being fishy would imply. If a mod wants to comment I am sure they will under their own name.

[max]

dont really see the relevance, but on what??

Sorry....let me restate my question.

If you were contracting with a yearly revenue of £150,000. (£575/day).

With these offshore scheme's, how much tax would you expect to pay? (before HMRC called for a recount)


Just wondering exactly how good a deal it was.

[DonkeyRhubarb]

Sorry....let me restate my question.

If you were contracting with a yearly revenue of £150,000. (£575/day).

With these offshore scheme's, how much tax would you expect to pay? (before HMRC called for a recount)


Just wondering exactly how good a deal it was.

I think MTM originally quoted a net retained income of around 87%, of which 10% was their fee and 3% was tax/nic. On 150k p.a., that would be around 4.5k tax/nic.

(Cue cries of outrage from Mal & Gooner )

[max]

I think MTM originally quoted a net retained income of around 87%, of which 10% was their fee and 3% was tax/nic. On 150k p.a., that would be around 4.5k tax/nic.

(Cue cries of outrage from Mal & Gooner )

Tasty morsel alright.

[DonkeyRhubarb]

Tasty morsel alright.

I imagine their new scheme will offer similar terms.

Not for the feinthearted of course!

[BrilloPad]

I imagine their new scheme will offer similar terms.

Not for the feinthearted of course!

Yes - it is the same deal. I reckon 4.5k plus 10% of gross. I assume 45 weeks per year - these days it is more ike 40 as I HATE clientco sooooo much!

[Maddog]

Sensible questions ??

My post of 13th June @ 09:30 was not posted on the forum until late last night. So in case it passed you by, can I ask for some sensible questions to ask an independent tax expert wrt to the MTM vs HMRC situation, on behalf of the schemers that are currently the ones with the most lose, but seem to be getting bugger all feedback from our so called "advisors".

My approach for independent advise is simply to :-

1. Get expert opinion on whether or not we are likely to have to pay the demands we are likely to receive end Aug or whether to toe the MTM line that the demands are invalid
2. What precedence there in such cases
3. Understand more the workings of HMRC if the demand is no longer under dispute and what damage limitation strategies we can follow. I have no idea if say I owe £200K, what demands they will put on me and how long I will have to pay it. Do they send the heavies rounds, can we negoitate as opposed to being made bankrupt etc etc ?

I am still of the impression of innocence until proven guilty, but rather than sit back and do nothing, I will happily spend some cash to a real expert to answer some outstanding questions, and thus help me come up with my strategy to deal with this.

Mad