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Recent content by SimonJones

  1. S

    New scheme doing the rounds

    RT scheme RT scheme I've heard about Remuneration Trust schemes operated via a limited company where they pay less corporation tax amongst other benefits - are these genuinely legal, just dosen't make sense. Has anyone come across these schemes?
  2. S

    BIG GROUP

    IHT IHT This whole IHT stuff is just crazy... on one hand HMRC is saying the earnings is income, hence taxable; and on the other hand they it's a loan as well, hence IHT. How can the earnings be both Income and Loan at the same time? Surely, isn't this double taxation?
  3. S

    Murray Group decision 5th July

    Thank for the response. I thought the judgement would give more clarity but it sounds like this will now lead into further mess and confusion.
  4. S

    Murray Group decision 5th July

    LC 2019 LC 2019 How does this hearing now effect the LC2019? Should there be no clarity on the who pays the tax (ie employers or employee) by the tax year 2018/19, than where does the scheme user stand with regards to this charge in question?
  5. S

    STAR

    Thank you for the info. In my case, I've haven't received any letter from HMRC. I was just wondering whether I need to write to them before the 6th explaining that I've only been on one scheme. The loans are all declared in the P11(d) to HMRC. The question in essence is, do I still have to write...
  6. S

    STAR

    According to the link... it reads that "Any scheme that HMRC defeats on or after 6 April 2017 will be issued with warning notices, unless they advise HMRC before 6 April 2017 of their firm intention to relinquish their position and settle their case.", has anyone taken an action to write or...
  7. S

    Rangers Tax Case Supreme Court 15 & 16 March

    Should HMRC win, than the tax liability falls on the employer, than what happens with these loans... how are they than treated?
  8. S

    BIG GROUP

    Out of interest really as I've never heard of this before!
  9. S

    BIG GROUP

    Renumeration trust Renumeration trust Not sure this is the correct place to post this, but has anyone heard of "Renumeration trust"?
  10. S

    IHT in settlement calculations

    IHT IHT Under s72, IHT will be due only when loans are written off. I understand this! Confusion is around s86. As I understand, under this section IHT is still due. (a) If so, when? (b) How is this calculated? ie is it every 10 years or on death. I would really appreciate if someone can...
  11. S

    Edge EBT thread

    No! I was just wondering whether it would be possible to just settle the IHT element (to stop IHT accruing). For the rest of the tax due, wait for the outcome.
  12. S

    Edge EBT thread

    IHT IHT It appears that IHT will be applied at some point whether its under s86 or s72. S86 will be triggered when one dies (regardless of winning the case or not). Just not sure how it will be calculated, will it be: (outstanding loan + assets) - 325K = IHT due on remaining amount. Under...
  13. S

    HMRC should evidence open enquiries

    HMRC sent me CSLO including the year fior which I did not receive an "Enquiry" letter. I wrote to them with respect to this matter (ie no enquiry letter was received by me for that particular year) and all they've done is send me a copy. I have written back to them asking for the evidence that...
  14. S

    IHT in settlement calculations

    I used to be with Edge, but on my CLSO is says IHT is due. Although it reads that the IHT under section 86 is applied but it then goes onto saying that the charges are under section 72(c). What I'm falining to understand here is, on one hand IHT is under section 86 (meaning out of scope of...
  15. S

    CLSO Says No IHT Due?

    You are right it is 1% per annum. Be careful with the CLSO, where they say IHT is not currently due/undermined simply means the CLSO is not final. They have left the door open to come back for IHT later.
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  1. Contracting
    1. General
      1. Brexit
    2. Business / Contracts
      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
      2. HMRC Scheme Enquiries
      3. The Future of Contracting
      4. IR35 Reform
    4. Technical
    5. Welcome / FAQs
  2. Social
    1. Light Relief
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