Just starting out as a contractor...

[ANSOF]

I have been using Danbro for a while now, I would reccommend them.

Quick and easy set up!

[TykeMerc]

I have been using for a while now, I would reccommend them.

Quick and easy set up!

Quit spamming, you're far too obvious. Despite appearances most of the CUK members are able to engage a braincell.

Like Mal I've looked into quite a few schemes over the years and I came to the conclusion long ago that they have no long term future.

The simple fact is that if you're UK resident and work in the UK then you're liable for UK tax. Esoteric tax planning schemes will eventually get shut down by HMRC who have already proven that they're more than willing to engage their time machine to attack the users retrospectively.
Inflated or artificial expenses are Criminal Tax Evasion.
Loan schemes run the risk that they could be proven to be tax evasion and there's nothing to stop the loans being perfectly legally recalled.
Off shore schemes are regularly being slammed shut by international tax agreements and some of them are at the least borderline or even outright criminal.

As has been said so many times before....

IF IT LOOKS TOO GOOD TO BE TRUE THEN IT IS TOO GOOD TO BE TRUE!!!!

[PhilAtBFCA]

Just staring out and thinking of offshore schemes

It is good to see that there is some sentiment against the tax avoidance schemes that are being marketed.

I would like to try and point out a few reasons to consider very carefully against choosing this route.

1. There is always a scheme promoter who gets paid whether you as the tax payer save any tax or not.
2. Schemes do go wrong, HMRC does take action. Read the forum posts on BN66 and EBT's to see what can go wrong.
3. HMRC is committed to doing everything it can to anyone who promotes their services to the self-employed/freelancer/contractor market, in every consultation document I have seen which has been released before legislation is enacted, specific examples of companies advertising " get 85%" etc have been given. (See point 8 of this blog on HMRC attacking self employed )
4. There are compliant , manageable and safe options available that in my experience are far more reliable.


I also understand how the majority of these schemes work, one of them being "marketed" here I do know the basics of and it has been constructed carefully and by advisors whim I respect.

But I still would not touch it or recommend it to a client for the reaons given above.

Summary > Its not worth it, and if you think it is, you may want to try and check that your greed is not overshadowing your intuition.

Phil