Originally posted by craig1
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Loans from EBTs and other Trusts
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Originally posted by craig1 View PostI'd be genuinely interested to understand why you believe that. Can you post a few notes please on why your scheme won't get caught by that fairly simple test: UK resident + UK earned income + using off-shore scheme to avoid UK taxation = Caught.
I'd imagine it's for the simple reason that his scheme doesn't make use of a DTA, which is what the proposed legislation appears to be keen to clamp down on.Comment
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Originally posted by Vallah View PostI'd imagine it's for the simple reason that his scheme doesn't make use of a DTA, which is what the proposed legislation appears to be keen to clamp down on.Comment
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Originally posted by geoff from contracta IOM View PostBecause there is no " earned income " by the individualComment
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Originally posted by LisaContractorUmbrella View PostDo you run the Isle of Man lottery GeoffComment
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Doesn't that rely on services being performed in IOM?
"For the purposes of the credit paragraph (Elimination of double taxation), profits or remuneration for personal (including professional) services performed in the Isle of Man are deemed to be income from sources within the Isle of Man"Comment
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Originally posted by craig1 View PostSeriously? Where does the money come from then? Contractor turns up for work then bills client/agency, surely that's income by anyone's reasonable interpretation. It's inconceivable that a court would take any other interpretation. I had a look at the Contracta website and, if that's the scheme you're touting, then you're touting self-employed consultants and it openly discussed "income"Comment
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Originally posted by geoff from contracta IOM View PostI appreciate you have an agenda Lisa but surely you have at least taken the time to study the detail of the alternatives to umbrella companies, I have taken the time to study all the alternatives to my scheme so that I can offer genuine advice on the best option and yes for some individuals that may be umbrella or a Ltd Co.Comment
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Originally posted by LisaContractorUmbrella View PostDoesn't that rely on services being performed in IOM?
"For the purposes of the credit paragraph (Elimination of double taxation), profits or remuneration for personal (including professional) services performed in the Isle of Man are deemed to be income from sources within the Isle of Man"Comment
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