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ChimpMaster

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#11

5 March 2013, 08:57

Certainly after these schemes were forced to 'register' with HMRC, the writing was on the wall that investigations were certain.

You would have been better off just not declaring any income at all, that way HMRC wouldn't have known you were a 'registered' offender!
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Mich the Tester

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#12

5 March 2013, 09:00

Is this another one of those schemes whereby small businesses attempted to pay about the same level of tax as Amazon and the likes but got caught out by retrospective 'clarification' of tax legislation?

And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014
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stek

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#13

5 March 2013, 09:06

Who's reading the EBT threads?

Originally posted by EternalOptimist View Post

peace of mind

Sorry! Restricted Internet at work have to use Tapatalk and my eyes aren't what they were..

I know it's 'peace of mind' honest!
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eek

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#14

5 March 2013, 09:06

Originally posted by Mich the Tester View Post

Is this another one of those schemes whereby small businesses attempted to pay about the same level of tax as Amazon and the likes but got caught out by retrospective 'clarification' of tax legislation?

In this case I don't think there is anything retrospective. EBTs were legal but had/have very tight rules regarding how they work.

I very much doubt ever scheme met those tight rules every time.

merely at clientco for the entertainment
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VectraMan

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#15

5 March 2013, 09:10

Originally posted by ChimpMaster View Post

You would have been better off just not declaring any income at all, that way HMRC wouldn't have known you were a 'registered' offender!

The whole loan scheme is so obviously dodgy that I'm surprised more people didn't simply ask their clients to pay them in reddies.

What would be funny if all the EBTers now had to pay back the "loans". We might find they suddenly agree that they weren't really loans in the first place, and stop the whinging about having to pay tax.

I don't have a lot of sympathy.

Will work inside IR35. Or for food.
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Waldorf

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#16

5 March 2013, 09:26

Originally posted by VectraMan View Post

The whole loan scheme is so obviously dodgy that I'm surprised more people didn't simply ask their clients to pay them in reddies.

What would be funny if all the EBTers now had to pay back the "loans". We might find they suddenly agree that they weren't really loans in the first place, and stop the whinging about having to pay tax.

I don't have a lot of sympathy.

+1

These are high risk dodgy schemes.

Whilst we can all agree that tax avoidance is legal, these are what are classed as aggressive tax avoidance, using long winded processes to achieve a goal that parliament did not intend them to be used for.

The potential extra gains are not that great in any case, so for peace of mind I will be sticking to running my own limited company.

I am sure that the forthcoming budget will see a further crack down on these schemes and other tax avoidance schemes, after all the recent publicity, it is an easy goal for the government.

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." Cicero
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edgy about edge

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#17

7 March 2013, 18:27

hindsight is a wonderful thing

I don't think anyone who got involved way back in EBT's understood the risks of retrospective tax actions against a perfectly legal scheme at that point in time.

Its totally unfair and against peoples human rights - they legislated in 2010 if you carried on you deserve what you get but before that they should accept it was their failure and let sleeping dogs lie
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