EBT / Stamp Duty schemes 'too good to be true'
A friend of mine bought into an EBT scheme a couple of years ago.
The way they sold it to him was that it was insured by a certain well known insurer and if he ever had to pay any tax then this would be covered by the scheme insurance (seems too good to be true!)
Within a couple of days of the EBT legislation being announced, he received communications from the promoter confirming that the new rules would not apply to this scheme (it seemed almost too soon after the introduction of new rules for any in depth research to be done by them). My friend is still comfortable using it, given the apparent insurance already mentioned.
I am quite concerned that he is not quite seeing the whole picture on this, and possibly being taken for a ride.
The reason this has come to mind now is that I have also seen 'insured' stamp duty avoidance schemes (based on subsale relief) that are saying that the budget this week hasn't changed anything!
Has anyone had any similar experiences?
- MONEYSOFT - EARLIER YEAR UPDATE 119 3
- reporting salary? 211 5
- Wrong career 236 9
- Other forums 151 3
- Payroll software : RTI submissions 344 17
- CIS repayment shambles finally over? 130 1
- VT accounts licence key 102 3
- Underpaid National Insurance 117 2
- Career Advice 150 3
- Keep receiving RTI late submission notice 111 2
- Small employers paying people when sick thanks alot! 2,904 29
- Would this save hours of your time? 243 5
- Payroo Employer allowance query 86 1
- non resident receiving UK dividends 171 2
- Adjusting over-provision of Corporation Tax in previous year 216 6
- Producing graphical KPI's etc 107 3
- Agent with HMRC 280 11
- Quarterly PAYE 281 8
- bookkeeping for interest & dividends 193 3
- Auto Enrolment & Moneysoft 575 4
- Residential Property Purchase Above £750K 776
- Using Sage with Sofa Categories 530
- Does anyone have an unwanted ICAEW wooden plaque? 395
- Goods shipped inter EU and VAT Reporting 281
- Non-Resident Director - UK Tax Position? 225
- Sage 200 and Access Dimensions reviews 219
- Director Loan account operation 217
- Free Tax Legislation? 213
- transferring simply accounting 2010 from xp to windows 7 209
- vat return 180