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Light at the end of the tunnel

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    Light at the end of the tunnel

    I signed up to a dodgy umbrella mid-tax year in 2019-20. HMRC sent letters saying I might be in a tax avoidance scheme etc etc. I got out of it quickly and set up with a proper umbrella and HMRC sent me a notice to do a tax return. I panicked for months, so much that I couldn't get round to it until January. However, I got an accountant to straighten it all out and the end figure was a lot less than I had estimated (because obviously you don't go straight to 40% after the personal allowance duh! )

    It was silly if me not to do my research before signing up in the first place but I have been relatively fortunate to have the mess contained in one year and paid back quickly. I lurked in a few threads and noted a post where some couldn't believe new people were still signing up for these schemes. Sadly the answer is Yes they are.

    #2
    Well done. Good to hear you escaped almost unscathed. If there were loans involved, what happened to them? Are they still open? I think others will be very interested. Thanks.
    Public Service Posting by the BBC - Bloggs Bulls**t Corp.
    Officially CUK certified - Thick as f**k.

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      #3
      Originally posted by YinYang View Post
      I lurked in a few threads and noted a post where some couldn't believe new people were still signing up for these schemes. Sadly the answer is Yes they are.
      Firms still selling these schemes must be bordering on fraud because they must know that there isn't a cat in hell's chance of them working.

      If they've got QC opinions, backing the schemes, they must be using well dodgy QCs.
      Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

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