Offshore Option

[Munchers]

Just for the record:

a) This type of set is being used by a friend and has used it for about 3/4 years.
b) I have never serioulsy thought this was a viable (legal) option hence why I have avoided for the last 3/4 years.

But when you see someone earning £100k+ a year and receiving 80% of everything it does make you think something isn't fair - especially when I am paying circa 35% to the taxman. I never believed this was a real option but it seems reasonable for me to at least pose the question when so much money is involved. I will continue with my limited company and will pay the taxman his dues and sleep well at night.

Thanks for all the comments.

[Vallah]

I never fail to be amazed at the number of people using or thinking of using these schemes, having said that the scheme providers know that there will always be some people who do not do the research, with all the information that is now available, anyone still using these schemes deserves what is coming to them.

What about people using schemes, who have done their homework, are perfectly happy with the service and haven't had a single problem either getting paid or with HMRC?

[SueEllen]

What about people using schemes, who have done their homework, are perfectly happy with the service and haven't had a single problem either getting paid or with HMRC yet ?

HMRC have a habit of changing tax laws retrospectively if it suits them.

[LisaContractorUmbrella]

What about people using schemes, who have done their homework, are perfectly happy with the service and haven't had a single problem either getting paid or with HMRC?

Know you of such a scheme?

[Vallah]

Know you of such a scheme?

Yes indeed I do. Shouldn't you be more worried about the AWD stuffing umbrella schemes post October?

[malvolio]

Yes indeed I do. Shouldn't you be more worried about the AWD stuffing umbrella schemes post October?

Only if you explain exactly how you (or they) are going to avoid paying the full PAYE and NICs on all income of any kind from that scheme come tax year end...

[LisaContractorUmbrella]

Yes indeed I do. Shouldn't you be more worried about the AWD stuffing umbrella schemes post October?

You have been saying that for days yet you haven't yet substantiated the comment - please feel free to do so. And ditto Mal's comment

[Steven@Parasol]

Yes indeed I do. Shouldn't you be more worried about the AWD stuffing umbrella schemes post October?

Vallah - serious question. What are EBT scheme providers such as yourself going to do re AWR?

Do you have to be the deemed employer in order to provide a loan scheme (again I really don't know so its a serious question) so therefore wouldn't the AWR liability lie with yourselves?

[Vallah]

Vallah - serious question. What are EBT scheme providers such as yourself going to do re AWR?

Do you have to be the deemed employer in order to provide a loan scheme (again I really don't know so its a serious question) so therefore wouldn't the AWR liability lie with yourselves?

The AWD won't apply to us. And we won't be offering EBT loans as obviously they aren't a viable means of tax planning any more.

[Steven@Parasol]

The AWD won't apply to us. And we won't be offering EBT loans as obviously they aren't a viable means of tax planning any more.

Are you looking at it from an EU level hence AWD as opposed to AWR?