Originally posted by Turion
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Reply to: Tax Avoidence Scheme Number
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Previously on "Tax Avoidence Scheme Number"
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Technically it's not income so keep quite. HMRC could kick up a stink even if it's legit. The rule of thumb in these circumstances is to let trouble come to you, not go looking for trouble.
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Originally posted by Emigre View PostMy understanding is that being a loan it is not income and therefore it is not a tax scheme and therefore there is no scheme number.
However, I would ask you scheme arrangers to confirm in writing that it is the case or provide the reference if not.
Also, I thought it was standard that scheme providers completed draft tax returns in order to ensure they were correctly completed. Are your guys running away?
Surely, its a scheme to avoid paying tax, and therefore should have a scheme number. The legislation says that non-uk providers do not have to register, and that this should be done by the members.
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These loan scheme managers are dodgy as it can be. I made a mistake but not anymore ...
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My understanding is that being a loan it is not income and therefore it is not a tax scheme and therefore there is no scheme number.
However, I would ask you scheme arrangers to confirm in writing that it is the case or provide the reference if not.
Also, I thought it was standard that scheme providers completed draft tax returns in order to ensure they were correctly completed. Are your guys running away?
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If it was a loan thingie you are proly best to not put any of these on the return....
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Tax Avoidence Scheme Number
Hi there,
I' was briefly with a offshore loan scheme (yes, I know) last financial year.
I'm trying to complete my tax return now, and it asks about the scheme number for Tax Avoidence.
I've asked the previous offshore company for a number, but they are (as normal) being tight lipped.
I'm not too keen on contacting HMRC and disclosing the scheme myself, although I will if I have to. Wondering if anyone else has hit this situation and found a way to 'search' for existing scheme numbers or similar?
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