Reply to: Lambard Wealth

[cojak]

I think you will have more than one dance partner too, anyone using a scheme deserves what they get, the very visible writing has been on the wall for a long time.

Might be an idea if the mods altered the thread title to reflect the real name of the scam artists and the fact they're trying to hide behind the Lombard name.

Good idea

[LondonManc]

Greed is inherent in humans.

Margin = Revenue - Costs.


If revenue is fixed for six months, attack costs:
Travel more cheaply (off peak trains, coach, drive, etc.)
Eat more cheaply ()
Stay somewhere cheaper (rent a room rather than hotel stay for example)

If it's sounding too good to be true, it usually is.

[No2politics]

If you want to take home a larger amount of money focus on increasing your daily rate. Also make sure u are taking advantage of all allowable things. Income split if u can.

[LisaContractorUmbrella]

Absolutely.

The other thing I expect promoters will do is not act as an "agent" and, instead, get users to file their own tax returns. It will be a nightmare for HMRC to detect scheme usage.

I bet we will also see a number of new 'consultancies' emerging

[LisaContractorUmbrella]

I think you will have more than one dance partner too, anyone using a scheme deserves what they get, the very visible writing has been on the wall for a long time.

Might be an idea if the mods altered the thread title to reflect the real name of the scam artists and the fact they're trying to hide behind the Lombard name.

I'm sure if we ask them nicely.......

[DonkeyRhubarb]

Totally agree. Many of the schemes already state no need to declare DOTAS so if you put down a salary of say £20k on your tax return and pay PAYE on it, then put £80k or more through a scheme, aren't HMRC going to struggle to identify scheme users?

Absolutely.

The other thing I expect promoters will do is not act as an "agent" and, instead, get users to file their own tax returns.

Basically, there won't be anything on the returns to flag scheme usage other than a lowish salary.

[TykeMerc]

We can but hope and if it does I, for one, will be doing the I told you so dance

I think you will have more than one dance partner too, anyone using a scheme deserves what they get, the very visible writing has been on the wall for a long time.

Might be an idea if the mods altered the thread title to reflect the real name of the scam artists and the fact they're trying to hide behind the Lombard name.

[LisaContractorUmbrella]

HMRC probably think they've addressed the scheme problem with APNs, FNs etc.

And, initially, it will look like that because nothing will be disclosed/declared. DOTAS registrations have already dried up.

It may come back to bite them on the bottom, though, if all they've done is drive it underground.

We can but hope and if it does I, for one, will be doing the I told you so dance

[LisaContractorUmbrella]

Love it

[Fred Bloggs]

HMRC probably think they've addressed the scheme problem with APNs, FNs etc.

And, initially, it will look like that because nothing will be disclosed/declared. DOTAS registrations have already dried up.

It may come back to bite them on the bottom, though, if all they've done is drive it underground.

Totally agree. Many of the schemes already state no need to declare DOTAS so if you put down a salary of say £20k on your tax return and pay PAYE on it, then put £80k or more through a scheme, aren't HMRC going to struggle to identify scheme users?

[LondonManc]

Is there a "cretin being bent over and shafted by HMRC" emoticon?

[NotAllThere]

And would HMRC believe us when we said this would happen - would they hell You just know that we are going to see a new round of schemes which will purport to 'avoid' all the new legislation coming in - do we have a 'banging head against brick wall' emoticon??

[DonkeyRhubarb]

And would HMRC believe us when we said this would happen - would they hell You just know that we are going to see a new round of schemes which will purport to 'avoid' all the new legislation coming in - do we have a 'banging head against brick wall' emoticon??

HMRC probably think they've addressed the scheme problem with APNs, FNs etc.

And, initially, it will look like that because nothing will be disclosed/declared. DOTAS registrations have already dried up.

It may come back to bite them on the bottom, though, if all they've done is drive it underground.

[LisaContractorUmbrella]

I expect many ̶s̶c̶a̶m̶ scheme promoters are rubbing their hands together with the latest onslaught on contractors.

And would HMRC believe us when we said this would happen - would they hell You just know that we are going to see a new round of schemes which will purport to 'avoid' all the new legislation coming in - do we have a 'banging head against brick wall' emoticon??

[DonkeyRhubarb]

IR35, in 2001, created the initial market for these schemes.

Son of IR35, next year, will spawn a whole new wave.

I expect the latest incarnations will try to go under the radar - no DOTAS disclosure (to avoid APNs) and nothing declared on tax returns. They will sail very close to the wind ie. evasion.