MSC Legislation - DMS & other Offshore EBTs

[Cowboy Bob]

From what I gather, the contractors are employees of a UK based company and receive loans through an offshore trust. As the UK based company has multiple employees, my head tells me that this must be an MSC and any view to the contrary is either aggresive tax advice or plain bad advice?

1) Never use a scheme that loans money. If they go bust the administrators can and probably will recall all the loans, despite anything that the MSC says.
2) MSC stands for Managed Service Company. If they are managing services for you, they are an MSC.

[oraclesmith]

Never use anything which has offshore, MSC or solution in the title. In my opinion.

[mats]

Is anyone else using Dynamic Management Solutions - DMS (or other offshore EBT arrangements) and have you any views on the implication of the new MSC legislation?

DMS are still awaiting further advice on their MSC status, but they've so far indicated they're not operating an MSC (no suprise they'd come to this conclusion I guess).

From what I gather, the contractors are employees of a UK based company and receive loans through an offshore trust. As the UK based company has multiple employees, my head tells me that this must be an MSC and any view to the contrary is either aggresive tax advice or plain bad advice?

Does anyone else share my concerns and if so, has anyone decided the risk is too high????

Cheers.


BTW, I know a lot of regulars have concerns about offshore EBTs (and so do I for that matter) - but I'd appreciate if we could just focus on MSC at this stage.