IR35 and off shore accounts

IR35 and off shore accounts

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I have recently heard of someone who was advised to set up a scheme off shore as a workaround the IR35 rules. The client is a driver who gets his invoices sent from and paid to an off shore company. i don't understand why this would work and whether it is worth the extortionate fees he seems to be paying for this service. If anyone has any experience with this is would be great to hear from you.

Many Thanks Lisa
Lisa Coulson

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By User deleted
29th Jun 2008 20:27

Off shore
At various networking events I've heard a couple capital strategy/tax consultants talk about such schemes, however, I'm very dubious whether they are worth it for the SME.

If this is a legitimate workaround, as soon as HMRC find out about it, I'm sure they will legislate against it quickly, so lots of these schemes can be quite short term.

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