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

**Edmontonexpat** · 23 January 2013, 16:05

Sanzar Conclusion?

Hi,

Can anyone share what they actually did after the HMRC contacted them about Sanzar Solutions? Did you reply to them and, if so, have they replied and demanded tax equivalent to PAYE tax and a fine? Did you write to Garraway and, if so, have they replied? Any information would be gratefully appreciated!

**Emigre** · 24 January 2013, 10:03

Originally posted by LisaContractorUmbrella View Post

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

Shame their facts are so wrong...

Under the LDF you either pay tax on income at the normal chargeable rate or you can elect to pay a composite rate of 40% of all income, gains etc with no reliefs available. You then pay 10% penalty on that sum for the element relating to the first 10 years and 20% for the later 3 years if HMRC had already told you about the LDF (otherwise 10% penalty continues).

Not quite the 10% and 20% stated!!!