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Umbrella / MSC schemes

Our clients can avoid the additional tax charges and expenses restrictions imposed under umbrella / MSC schemes and arrangements.

Accountant 2U Direct were one of the first firms to publish expert advice on the new changes introduced by the Dec 2006 pre budget report, literally minutes after the government announcement which brought an end to umbrella / managed service company schemes being a tax efficient vehicle.

Our services can be certified to fall outside these rules as you maintain sufficient financial, management and decisive control over your company's affairs and we will advise you on the basis that you are a commercial consultancy business.

We only recommend the use of Umbrella / MSC schemes where the amounts invoiced are under c.£400.00 a week or where the contracting arrangements will last no longer than 1 month.

Overseas schemes

The main firms providing these schemes are not regulated by the UK professional bodies.

Independent tax advice from a an international tax expert or barrister should be sought before engaging in an overseas payment scheme as these trust / loan schemes provide a specific percentage return but do not advise or warn of the loss of net extractions arising from the omission of expenses claims and the additional Income tax payable by UK resident individuals on top of their net receipt.

Under the new anti avoidance legislation, HMRC have access to information on individuals who have used such a scheme and now have the power to recover taxes and supplementary penalties arising from the use of such schemes as far back as the 1980's.

The claims made by these firms that tax barristers or tax experts have endorsed the schemes are invalid as their legal duty of care is towards the scheme provider and not the individual scheme users.

As announced at Budget 2015, legislation will be introduced in a future Finance Bill to introduce tougher measures for those who persistently enter into tax avoidance schemes which fail (serial avoider).