Paid via an offshore fund

[minestrone]

The girlfriend's company want to start paying wages for the partners through one of these off shore funds. The kind you pay into a fund in belieze then they put the money back into a second account for you minus 7%.

Now I am pretty sure that there is no way the tax man is going to let you get away with this and she knows it as well but the problem is that there is a vote today and it looks likely that the company will force her to adopt this system unless she can somehow disuade them.

Does know how these things work and if it is dodgy have some evidence that she could use. News article, HRMC statement, that kind of thing.

Thanks

[ratewhore]

Loads of threads on these so do a search, but usually Isle of Man based, not Belize (far too close to the Columbian drug trade).

Funnily enough, a colleague of mine has made the decision to shut down his Ltd and go offshore for 12 months. He reckons the additional risk is minimal and tbh, I find it hard to argue with him, although it's not the choice I would make...

[BrilloPad]

You could start by looking at the bn66 thread.

Some loan schemes have unravelled - HMRC will soon attack the rest......

[minestrone]

You could start by looking at the bn66 thread.

Some loan schemes have unravelled - HMRC will soon attack the rest......

Cheers, got some stuff in that.

I was searching in this forum mainly and never really came up with anything. Then I see there is a massive thread in accounting/legal.

[BlasterBates]

The girlfriend's company want to start paying wages for the partners through one of these off shore funds. The kind you pay into a fund in belieze then they put the money back into a second account for you minus 7%.

Now I am pretty sure that there is no way the tax man is going to let you get away with this and she knows it as well but the problem is that there is a vote today and it looks likely that the company will force her to adopt this system unless she can somehow disuade them.

Does know how these things work and if it is dodgy have some evidence that she could use. News article, HRMC statement, that kind of thing.

Thanks

Yup I would definitely leave if I were her, as the subsequent tax bill could be unpleasantly high.

Seems a rather "dipstick" thing to do.

[minestrone]

Yup I would definitely leave if I were her, as the subsequent tax bill could be unpleasantly high.

Seems a rather "dipstick" thing to do.

Aye, one person is pushing it and the rest are all thinking "that sounds interesting , lets get the company in to speak about it and take a vote"

How any of them think tht the NHS will pay them a 6 figure salary and then they can get away with paying tax on it is a sign of madness.