Tax Design.

[TrashMan]

Tax Design

All links & telephone numbers on their website lead to a Justin Webster.
If you do a search on Justin Webster Barrister you get some quite worrying information - he has been imprisoned twice and debarred from acting as a Barrister.

Unfortunately the tax design guy is the ex-criminal.

[prozak]

All links & telephone numbers on their website lead to a Justin Webster.
If you do a search on Justin Webster Barrister you get some quite worrying information - he has been imprisoned twice and debarred from acting as a Barrister.

Unfortunately the tax design guy is the ex-criminal.

Whoa!

That's a huge claim.

[DonkeyRhubarb]

Whoa!

That's a huge claim.

There are 2 things to look at when considering a scheme:

1) the likelihood of it achieving its purpose (very difficult to assess no matter how credible it appears; even QC opinion is just an opinion after all)

2) the financial stability and integrity of the firm promoting it

Since you are planning to exit abroad eventually, (1) may not be that important to you, so you should worry most about someone running off with your money or going bust and leaving you in the lurch.

If I were you, I would look at some of the bigger players like Montpelier, deGraaf or Steed. All three offer loan schemes with a high net retention, and they are well established companies. For example, Montpelier has 700 employees worldwide spread across many countries, and most of their business is in financial services not tax planning.

[TrashMan]

Tax Design

Just checked out the company that owns tax design website

Then went to companies house and paid a £1 to get copy of latest annual return.

This has been signed off by a Mr E W Gittins on behalf of MT Secretaries Ltd.

This company is part of the Montpelier Group.

So wondering if Tax Design is the company offering the loan scheme that replaced the BN66 scheme.

[Friendly Accountant]

Hmmmm

I will admit up front that I am not familiar with this company or their offering, but, I'd have the following comments:

Firstly, the returns (up to 90%) are higher than the other schemes that I would be comfortable with. They may be achieving this by either lowering their fees or cutting corners on the implimentation. The first option may be OK, the second could cause problems.

Secondly, is it an EBT based scheme? These schemes can be difficult to impliment for those in the medical profession and some of the established schemes that I am aware of avoid this sector for that reason. Same goes for company directors. They seem to be offering the scheme to both of these groups. Maybe they know something that everyone else doesn't, but I would be a bit careful. If it is a loan based scheme, make sure there is an EBT involved and that they haven't cut out this fairly crucial element. Some other schemes have done this without the EBT and it can cause huge problems for the contractors.

Again, I will repeat the caveat that I haven't reviewed their documentation so these are only initial impressions, but not based on firm knowledge of their offering.

[prozak]

I've been in touch with them.

I don't want to divulge their info without them doing so.

But basically there is a totally independent and regulated trust involved that sets up sub-trusts in a persons name.

[TrashMan]

I've been in touch with them.

I don't want to divulge their info without them doing so.

But basically there is a totally independent and regulated trust involved that sets up sub-trusts in a persons name.

Yes i got that far .

But my concern is that the money has to go via a UK company and the UK company involved appears to be controlled by Mr Webster . The company correspondence i received all came from Mr Websters home address in canterbury.

[nodric]

This might help http://www.fidei.biz/

Amusingly most of the site is behind the members section but, if you Google their site for fidei IOM Search and hit the cached pages it has most of the hidden pages in it

[nodric]

All links & telephone numbers on their website lead to a Justin Webster.
If you do a search on Justin Webster Barrister you get some quite worrying information - he has been imprisoned twice and debarred from acting as a Barrister.

Unfortunately the tax design guy is the ex-criminal.

Purely circumstantial but, a Google search revealed lots of stories of a Justine Webster Barrister from Ashford Kent went to Prison on more than 1 occasion for female harressment and related offences including perverting the course of justice.

Interestingly the Canterbury office of Tax Design is 12 miles from Ashford.

The Tax Design website was only updated a few days ago and although no longer linked from the main pages this old FAQ page is still live FaQs. Apart from some notes saying it is not an EBT it also only lists their Ashford office phone number.

If, as my other post notes, he is acting as a agent for setting up trusts then it is easy enough to go direct to the trust provider for the same services.

I would ask him straight if he is the chap in these articles, Guardian 2001 and The Telegraph.

I would always be more concerned with schemes claiming to offer you 90% retention, especially in Mr Brown's back yard and, operating via the IOM

[prozak]

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