Consultation on offshore umbrella companies

[LisaContractorUmbrella]

Yes you are right. But that is perfectly legal as set out by a number of provisions in the finance act and not covered by this consultation paper.

Sorry but I don't think you're right. The intro states:

some businesses are using [offshore scheme providers] to avoid paying employment taxes for their UK based workers. This is not fair and undermines compliant businesses. These structures are increasingly being marketed as a legitimate way to avoid Eer's Nic's. The consultation sets out plans to provide a level playing field so that UK businesses that are playing by the rules cannot be undercut by those who are involved in avoidance arrangements.

The document implies that any company purporting to 'employee' the contract (as with an offshore umbrella company) they will fall within the new legislation.

[bangface]

Nope. they'll just stop dealing with anyone other than through a UK limited company or onshore umbrella

And what about those schemes that are set up using UK limited companies as fronts for the offshore scheme?

[cojak]

And what about those schemes that are set up using UK limited companies as fronts for the offshore scheme?

If I was an agent I would want to know if the contractor was a Director or a major shareholder of said Ltd company.

If they weren't either of those my barge pole would stay firmly in it's box.

[LisaContractorUmbrella]

And what about those schemes that are set up using UK limited companies as fronts for the offshore scheme?

The agency should ask, in it's due diligence process whether or not funds are transferred from the company registered in the UK to any other companies

[Craic]

All at it

It looks like they're all at it - even Margarate Hodge who has been bashing the multinationals - Margarate Hodge is an offshore tax avoider

[cojak]

It looks like they're all at it - even Margarate Hodge who has been bashing the multinationals - Margarate Hodge is an offshore tax avoider

Keep Up At The Back!

That's old news...