Product Summary

This is a structured piece of tax planning suitable for those who are comfortable with a higher degree of tax risk.  This product works well with contractors whose contract value would otherwise be in the 40% band.  The product is used by contractors or directors of limited companies, professionals such as barristers and dentists, offshore workers in the oil and gas sector and many more.

Main features

  • Minimum 82% retention of contract value (can be up to 90% but that depends on contract value)
  • Based on a well researched technical structure
  • Supported by a high quality QC’s opinion (which we have read)
  • IR35 compliant
  • No joining or exit fees
  • Quick payments (within 24 hours) with minimal credit risk
  • Works well combined with traditional tax planning
  • Supported by one of the market leaders of advanced tax planning
  • Low accounting fees of £50 pcm plus VAT

SPECIAL SUMMER OFFER – Free iPhone 6 (minimum 12m contract applies)

If you would like to know more please CONTACT US FOR MORE DETAILS.

Our View

We think that if you are comfortable with a higher level of tax risk this product stands up to scrutiny.  We find that the company that has put together this product walks its talk as regards supporting the taxpayer.  In the event that a taxpayer receives an enquiry from HMRC on their products, the company has some highly experienced resources with which to engage with HMRC.

If you would like to discuss this product further please call us or email us to arrange a meeting in person.

The tax planning market

We keep a close eye on the tax planning solutions advertised to contractors.  The market is completely unregulated which means that providers can say anything and not be held to account.  We find products being advertised today offering 90% plus retention of funds being offered by companies that have only been in existence a few months.  We find providers who offer to represent you up to the First Tier Tax Tribunal (“FTT”) if their product is challenged on your tax return – not impressive as the FTT is the lowest part of the tax judicial process.  Many landmark tax decisions have been won on appeal and even appeal to the Supreme Court.  Here is our checklist:

  • How long has the promoter been in existence?
  • Do they employ tax specialists?
  • Can you read their QC’s opinion?  We know of one product where the promoter said they had QC’s advice but what they didn’t say was that the QC’s advice was that it would not work!
  • Do they have specialists who can deal with HMRC on your behalf if you get an enquiry on your tax return related to their product?
  • Do they have a ring-fenced fighting fund to defend a challenge to your return?
  • Will the fund be able to afford appeals to higher courts if they fail at the first hurdle (which is common)?
  • Do they have follow on products they can switch you to when one stops working?

Advanced tax planning products are not for everyone and we do not make recommendations as to suitability.  These products are technical in nature and are designed to comply with the applicable laws in force at the time.

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