Anyone using Kinsella or PaySchemePlus?

[ASB]

ok.. i do take your point, but it is a good scheme, provided you don't get busted

On that basis a better scheme is simply to incorporate, extract the company funds as cash and hope the authoriteis don't notice.

This scheme gives you a 100% return and is just as effective until the knock comes.

[Tramline]

I love the banter on here regarding tax minimisation / avoidance. Ladies & gents, do you think the likes of Alan Sugar, Richard Branson et al pay full taxes? If anyone is seriously intersted in minimising their tax bill, don't take advice from a TVR driving fuddy duddy like Malvolio , go and pay for some advice, you may be very suprised with what you find

[~Craig~]

I love the banter on here regarding tax minimisation / avoidance. Ladies & gents, do you think the likes of Alan Sugar, Richard Branson et al pay full taxes? If anyone is seriously intersted in minimising their tax bill, don't take advice from a TVR driving fuddy duddy like Malvolio , go and pay for some advice, you may be very suprised with what you find

Doesn't Alan Sugar buy premium bonds

[hyperD]

a TVR driving fuddy duddy like Malvolio

You drive a TVR Malvolio? Excellent! What type?

[suburban74]

Never mind all that - what about property investment...

Guys

I do understand what you are saying, and if I wasn't in any doubt or had no morals what so ever then I would have just gone and done it, without even airing it on here, but I did, because I wanted the valuable opinion of my peers.

Now.. who knows anything about buy-to-let through a limited company. I realise I can't use my existing one as lenders don't especially like that, but if I had a sister company, which did the property thing to my existing company, how would that work??

[ASB]

Guys

I do understand what you are saying, and if I wasn't in any doubt or had no morals what so ever then I would have just gone and done it, without even airing it on here, but I did, because I wanted the valuable opinion of my peers.

Now.. who knows anything about buy-to-let through a limited company. I realise I can't use my existing one as lenders don't especially like that, but if I had a sister company, which did the property thing to my existing company, how would that work??

Can work quite well. Can completely screw you up. Especially if you emigrate. The property board on the motley fool is probably a good place to start you research.

[ojock]

Taking advice from this forum could be seriously bad for your financial health

Listening to the likes on malvolio and so forth on here, you would've thought you needed to ask the taxman permission first before you can fart.

Your best bet is to seek a proper legal opinion on payschemeplus, which is what I did. Yes it does cost money up front, but at least these people are experts on case laws and precedents, and can give you an educated opinion on the risks and issues with running these schemes. They can ask the right questions and prove the validity of their claims. They can also advice you on future steps you should take to mitigate your tax position.

I'm not going to tell you the result of my findings cos I paid good money to get a legal opinion, so I believe you should do the same. And I especially wouldn't want people on here who diss the scheme getting a freebie on me, they might well be right with their rather unsubstaniated opinions, but when was the last time they went to lawschool?

[Ardesco]

And this thread is soooo old too

[ojock]

And this thread is soooo old too

Yeah you're right, and payschemeplus's still running, what should i do?

[DaveB]

Yeah you're right, and payschemeplus's still running, what should i do?

Possibly explain to us why you specifically joined the forum to ressurect a thread that died on it's arse 9 months ago just to try and put a positive spin on the schemes involved?