The stuff you need to know about loan schemes......

[Waldorf]

Offshore employment intermediaries: The Government has announced that it will undertake an internal review of offshore intermediaries being used to avoid tax and NICs and will announce its conclusions at the 2013 Budget.

To all the offshore scheme providers - is this giving you sleepless nights? Perhaps this will be the end of the offshore schemes, same as when MSC's were shut down in 2007?

[cojak]

The stuff you need to know about loan schemes......

Of course it's not, they probably don't have their own money invested in them. To providers this just business.

[rootsnall]

Of course it's not, they probably don't have their own money invested in them. To providers this just business.

Cojak ( or anyone else ? ), as somebody who seems to follow this stuff, do you fancy trying to explain to the casual follower of these threads, why HMRC/government can't come up with some legislation to stamp out the offshore schemes when they are so obviously set up for the sole purpose of avoiding tax and NI ?

Same applies to IR35 really, if they want to make us pay NI then why can't they just legislate accordingly, it can't be that hard, surely !?

[DonkeyRhubarb]

Cojak ( or anyone else ? ), as somebody who seems to follow this stuff, do you fancy trying to explain to the casual follower of these threads, why HMRC/government can't come up with some legislation to stamp out the offshore schemes when they are so obviously set up for the sole purpose of avoiding tax and NI ?

Same applies to IR35 really, if they want to make us pay NI then why can't they just legislate accordingly, it can't be that hard, surely !?

The difficulty with IR35 is framing legislation in such a way that it catches the people you want to (disguised employees) but doesn't affect people running legitimate businesses. Differentiating, in law, between genuine (commercially motivated) incorporation and that done for the primary purpose of avoiding tax is not that easy.

I guess the Government are hoping that the GAAR (General Anti-Avoidance Rule) they are planning to introduce next year will stamp out a lot of the "contrived" schemes.

[mudskipper]

For anyone considering these schemes, a link to another thread where someone's been bitten.

http://forums.contractoruk.com/accou...on-letter.html

[neo222]

For anyone considering these schemes, a link to another thread where someone's been bitten.

http://forums.contractoruk.com/accou...on-letter.html

Yes, this is me, unfortunately. Not sure of the exact implications yet, but I wish I had gone the limited company route early, and not fallen for the guarantees and promises.

I still get weekly calls from AML and others asking me to come back. Promising me 90% returns! Don't do it.

[Waldorf]

Middle-classes to be targeted in tax evasion clampdown - Telegraph

Looks as though the targeting of users of the various offshore schemes and importantly, their promoters are to be in the sights of the authorities.

Surely anyone using these now, wants their head seeing to?

[LisaContractorUmbrella]

Middle-classes to be targeted in tax evasion clampdown - Telegraph

Looks as though the targeting of users of the various offshore schemes and importantly, their promoters are to be in the sights of the authorities.

Surely anyone using these now, wants their head seeing to?

Unsure why they are targeting the middle classes

Yep agree with you - seems like the tax office are learning a few strong arm tactics from their colleagues at the VAT office

Just found this as well - those little tykes have been busy haven't they http://www.iexpats.com/2013/01/offsh...british-fatca/

[DaveB]

Unsure why they are targeting the middle classes

Yep agree with you - seems like the tax office are learning a few bullying tactics from their colleagues at the VAT office

Just found this as well - those little tykes have been busy haven't they Offshore Targets In Sight For British FATCA - iExpats.com

I'd have to take issue with the statement about bullying tactics from the VAT people. VAT is, and always has been, very clear. The rules are understood and applied consistently and if you do what you are supposed to their people are generally helpful and understanding. It's when you try and fiddle your VAT that the gloves come off. Even then it's not bullying, it's applying the rules and not taking any bulltulip. I know two guys who are now senior VAT inspectors, they take their jobs extremely seriously when they think someone has been ripping them off.

The Inland Revenue people are the ones who are basically making it up as they go along and trying to appropriate the legal powers that the Customs and Excise (VAT) have had all along. They need no lessons in Bullying from anyone.

[LisaContractorUmbrella]

I'd have to take issue with the statement about bullying tactics from the VAT people. VAT is, and always has been, very clear. The rules are understood and applied consistently and if you do what you are supposed to their people are generally helpful and understanding. It's when you try and fiddle your VAT that the gloves come off. Even then it's not bullying, it's applying the rules and not taking any bulltulip. I know two guys who are now senior VAT inspectors, they take their jobs extremely seriously when they think someone has been ripping them off.

The Inland Revenue people are the ones who are basically making it up as they go along and trying to appropriate the legal powers that the Customs and Excise (VAT) have had all along. They need no lessons in Bullying from anyone.

Re-phrased