Originally posted by Kate Cottrell
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IR35 / Ltd company / Employee
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To get 93% returns, I'd guess that the scheme runs something similar to the Boyle case which HMRC have just won - take a loan in a foreign currency at unrealistic exchange rates in something which rapidly devalues like the Uzbekistani Som.
LinkyOriginally posted by MaryPoppinsI hadn't really understood this 'pwned' expression until I read DirtyDog's post.Comment
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I haven't been following these schemes so apologies if this is a stupid question but is there a penalty on the scheme providers as well as the customers getting hit for tax. I can't fathom why companies are still pushing this model when there is a very high risk it will fail in court. Do they get away fairly easily so worth wringing every penny out of it until HMRC shut them down or what? Surely it is negligent to continue to push a scheme that is likely to fail?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostI haven't been following these schemes so apologies if this is a stupid question but is there a penalty on the scheme providers as well as the customers getting hit for tax. I can't fathom why companies are still pushing this model when there is a very high risk it will fail in court. Do they get away fairly easily so worth wringing every penny out of it until HMRC shut them down or what? Surely it is negligent to continue to push a scheme that is likely to fail?
So non-UK employees could use the scheme I guess.
But you're right, there should be a penalty for schemes with invalid users in them."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Originally posted by northernladuk View PostI haven't been following these schemes so apologies if this is a stupid question but is there a penalty on the scheme providers as well as the customers getting hit for tax. I can't fathom why companies are still pushing this model when there is a very high risk it will fail in court. Do they get away fairly easily so worth wringing every penny out of it until HMRC shut them down or what? Surely it is negligent to continue to push a scheme that is likely to fail?Comment
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Originally posted by LisaContractorUmbrella View PostOriginally posted by MaryPoppinsI hadn't really understood this 'pwned' expression until I read DirtyDog's post.Comment
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There's an article here in regard to professional negligence claims against promoters, but I presume that's the best anyone could hope to go for without an extension of the transfer of debt regulations.
HMRC takes on tax scheme promoters | AccountingWEB
I would imagine a lot of the final people in the chain are also based offshore.Comment
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Originally posted by DirtyDog View PostThat addresses the individual, but does nothing happen to the scam organisers, apart from unhappy people moaning about how they have been abandoned?Comment
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