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Hi Tony, I have seen several 'schemes' offered, all of which usually involve an incredibly expensive upfront cost to the person who wishes to engage and little protection after the fee has been paid, with benefits that appear too good to be true, I am of course not suggesting yours is like this. Can I please ask are you offering to assist with setting up the scheme and also what protection/confirmation do you have from HMRC that this is in fact legitimate? I have seen situations in the past where Barristers have supposedly viewed the scheme and said it is legitimate, but not prior confirmation from HMRC. I am sure the set up you suggest is completely legitimate, but what reassurances could be offered to anyone participating in this? Is this something an independent accountant or HMRC would be able to verify if we wanted to contact them before taking any steps? Many thanks in advance for your help.
Never pander to any one suggesting they have the scheme for you which i think unfortunately you are doing,Be highly critical and suspiciuos ,Above all do your due diligence on the individual promoting the scheme.What companies have they previously been involved with ?Where thy back in 2015 suggesting incorporation was the way to go for instance?.Search their home address spend £3 searching the land registry and see if they are mortgaged.Find out what their house is worth via zoopla.do a run down their road on google earth.- all this may give you an insight to how successful they really are.Politicians are not the only people who ignore your questions by replying to something you have never asked
Dear Mr. Frump (or is it Mr. Selley),
Please not make comments or judgements about me, my life choices or the circumstances behind it when you nothing whatsoever about either. It is rude, disingenuous, insulting, and verging on trolling!
If you have a problem with me, then have the common decency to speak with me directly, and I'll be happy to correct your misconceptions.
Assuming you've balls enough for it instead of hiding behind a computer screen, then my telephone number is 07974 099221.
Less Tax For Landlords
Instead of making wholly unfounded and uneducated comments, why don't you undertake proper research and read HMRC's guidance of March 2014 (Partnerships: A review of two aspects of the tax rules), which says, under section 3.1 Excess profit allocation, that "Arrangements where an individual, or individuals, divert all or part of their profit share to a non-individual member or members, usually a company or companies, in order to reduce tax on their profit share. The rules allow the profit sharing arrangements agreed by the members to be over-ridden so that individual members are taxed on the diverted profits. The legislation does not apply to mixed membership partnerships in which the individual and non-individual partners are genuinely acting at arm’s length and not intending to secure a tax advantage".
We have used this for property businesses for three tax cycles with 100% success. Moreover, one of the UK's largest IFA networks have examined this in great detail and have said that "we have looked into the structure and found it to be both legal and correct and do not have a problem with it".
Looks like Tony has cracked it, anyone taken the plunge?
I am guessing those that have, now have no reason to come on here as their lives are sorted.
wish I was one of them but I am too scared!