Is Powerhouse a Giant?

[rebeccaloos]

Thanks Planetit for the precision

One point for you is that Giant never explained this to me properly. But now I understand it thanks to your last post.

I have ditched Giant but not because they weren't accurate on this (not really their role since they don't act as accountant, but just as managed ltd company), and not because they are dodgy in paying (they've been fine).
But I have found a pay to pay less tax so hey! Presto...

[Underscore]

Rebbeca - who have you moved to now?

[basilspinone]

Yeah Becca

c'mon tell us! how are you paying less tax?

are you Mr Brown's mistress now ;-)

[rebeccaloos]

foreign loans guys.... yes I know risky and probably illegal but who cares....

[Underscore]

via who? Norla?

[rebeccaloos]

no, someone else

[FoxyMinx]

Foreign loans OMG

May friend got a letter from the IR in Dec 2004 regarding a foreign loan scheme he used through 'Consulting Overseas', in fact most people who used the scheme as COS got the letter.

Saw him on Friday, he has been given a tax bill for £65k for three years, if he does not pay by a certain date, the IR are going to add another £65k in penalties, total owed £130k !!!!!
A small mortgage accruing interest daily.

Consulting Overseas apparently have very good lawyers fighting the case, but a lot of people have just given in and paid. My mate wont pay and as a result is leaving the country on 1st July.

This is 100% true, I'm sure COS want confirm it but IR might.
It was also mentioned to him that his current COS scheme will probably be looked add.

[clownio]

Sadly, it's all too true ! I've been caught up in the SCO investigation and have (on advice from my accountant) agreed to pay up and walk away. The IR have given favorable terms for those wishing to settle including no interest on unpaid tax and no penalties. They have also agreed that if after investigation the scheme proves to have been legal they will refund the dosh .....yea like that's gonna happen. Anyway I look like having to stump up £20,000 ish which is nothing compared to a friend of a friend who was also on the scheme who has just had a bill for a cool £200,000 land on his doorstep. OUCH !