Optima Professional / SP-Management / First 4 Lawyers

[webberg]

Schemes were/are and always probably will be legit...

But the APN legislation means HMRC don't have to prove they are successful in avoiding taxation before issuing you with a bill

Do NOT confuse being "legit" meaning no/low tax.

All schemes are legitimate. Not being so opens them to criminal action.

The issue is that the legislation that they try to match is capable of different interpretations. The scheme provider has one view and HMRC perhaps another. In the end a Judge makes a decision. he does not decide that the scheme is not legitimate, just that the tax consequences are A B C.

Also APN has absolutely nothing to do with legitimacy.

APN issue is HMRC saying, I want to challenge your interpretation and whilst that is being sorted out (years) I want to hold the tax that we're disputing.

Completely separate and independent matters.

[Darren at Fox-Bartfield]

SP Management Trust

Just giving this thread a bump having taken on a couple of clients that appear to have used SP Management Trust over the last couple of years:-

Same company, different label

These things are still being touted around by recruiters by also, as we've found out, by an accountant that's owned by the same guys in the link above, The Knox Group.

If it's too good to be true then more often than not, it is!

[HMRC made Atlas Shrug]

Hi All,

I’m new to using someone for my accounting and I’m about to take on a new contracts and was looking to go Limited.
I have found a company Optima Professional who essentially will handle all of my LTD stuff, book keeping invoicing ETC and work on what I can see is a EBT method for paying me.

What I don’t understand is, is this legal? – I’m no Tax expert but I really am worried. They have offered to do all of the LTD registration for me and cover the cost of this. Has anyone dealth with First 4 Contractors or SP-Management before and able to offer any light on whether this method of book keeping is legitimate?

Essentially they I will set up a new business account for when I go limited and I will continue to invoice my clients they will then calculate on my invoices how much money they need to invoice me, I will be paid £11,000 from my business account as a salary and then essentially sent money via a Trust. Here is an example which has been sent over for £40,000 per year.

Gross Value: £40,000
Dividends: £2,000
Retainer: £11,000
Discretionary Loan Award: £20,600
smartPAY Take HomeL £33,600

Any feedback on this company would be great. thank you.

Even if it is legal at the moment, HMRC will ignore all of that (the law does not apply to HMRC) years down the line. When they come for you for all manner of taxes, penalties and interest, how would you feel 15 years from now when you are forced to sell your house to pay your tax bill.

To help you I'm listing all the ways these scheme providers will be there to help/support you at the time as well as their contact details for when HMRC comes for you.





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I hope the list is of help to you.