Hello Cojak, Eek,
Thanks a lot for your reply, I understand it must be between boring and frustrating to keep receiving this sort of enquiries.
I am working with a standard umbrella and I am not going to change unless I will not have some assurance from experienced people here, accountants and other...
Definitely not naive, maybe a bit greedy!! Mostly curious!!
Your posts, recommendations and advise could be the Chapter 1 of the Contractor's Bible and there will be probably hundreds of people you saved, cheers to that!
What I am thinking is that this growth shares are real, legal and largely used, why this could not be used here?
Are this growth schemes manged properly when they are handed by this umbrellas?
This is not about loans, 100 pages contract, rough "Bonus" or fantasy names on what in fact remains a taxable salary.
This guy here is talking about go myself to knock at HMRC with an end of the year self assessment to declare the redemption of this shares.
They are advising about the monthly fee to allocate each month for the end of the year self assessment which they say I could do myself, with my accountant or use their service.
They are talking about shares certificates; the umbrella this broker is suggesting is registered and in business since years.
The only thing is a poor website and the fact they are suggesting to use an escrow account to keep the money saved monthly to have it ready for the self assessment.
Even thought an escrow account it is managed by a third party and they can't dispose of anything there without my approval I could possibly refuse that.
I have to understand where is the issue because it just sound right and juicy!! (this is now more greedy than curious... I'll give you that, but not naive)
Shares are a fact in economy, so, is there a setup that could work for us?
If not this is the ultimate evil in the "Tax Efficient Umbrella" and Chapter 1 needs to be updated!
Right now I am thinking I should give it a go for a couple of months just before the end of the tax year and check everything with HMRC...
Have you really ever heard about anything like this?
Thanks a lot for your reply, I understand it must be between boring and frustrating to keep receiving this sort of enquiries.
I am working with a standard umbrella and I am not going to change unless I will not have some assurance from experienced people here, accountants and other...
Definitely not naive, maybe a bit greedy!! Mostly curious!!
Your posts, recommendations and advise could be the Chapter 1 of the Contractor's Bible and there will be probably hundreds of people you saved, cheers to that!
What I am thinking is that this growth shares are real, legal and largely used, why this could not be used here?
Are this growth schemes manged properly when they are handed by this umbrellas?
This is not about loans, 100 pages contract, rough "Bonus" or fantasy names on what in fact remains a taxable salary.
This guy here is talking about go myself to knock at HMRC with an end of the year self assessment to declare the redemption of this shares.
They are advising about the monthly fee to allocate each month for the end of the year self assessment which they say I could do myself, with my accountant or use their service.
They are talking about shares certificates; the umbrella this broker is suggesting is registered and in business since years.
The only thing is a poor website and the fact they are suggesting to use an escrow account to keep the money saved monthly to have it ready for the self assessment.
Even thought an escrow account it is managed by a third party and they can't dispose of anything there without my approval I could possibly refuse that.
I have to understand where is the issue because it just sound right and juicy!! (this is now more greedy than curious... I'll give you that, but not naive)
Shares are a fact in economy, so, is there a setup that could work for us?
If not this is the ultimate evil in the "Tax Efficient Umbrella" and Chapter 1 needs to be updated!
Right now I am thinking I should give it a go for a couple of months just before the end of the tax year and check everything with HMRC...
Have you really ever heard about anything like this?
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