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>> No. 15569 Anonymous
13th June 2018
Wednesday 4:46 pm
15569 Tax dodgers whine about having to repay tax they dodged for over a decade
https://www.standard.co.uk/business/suicide-watch-the-preventable-tax-timebomb-looming-for-freelancers-a3861916.html

Apparently it isn't fair for these people to be made to pay back the money that wasn't rightfully theirs. What do you think their attitude is to people who neglected to set aside money to cover their self-assessment liability and spent it instead?
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>> No. 15570 Anonymous
13th June 2018
Wednesday 5:59 pm
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As a freelancer, I struggle to feel sympathy for someone who owes six figures in back taxes. IR35 can legitimately be a pain in the arse sometimes, but a lot of freelancers will jump on any old tax fiddle and then cry foul when the taxman calls them out on their bullshit. For the most part, we're well-paid professionals who should really know better.

My understanding is that these people were using complex offshore arrangements to pay almost nothing in income tax. They were taking "loans" that were really remuneration, for the specific purpose of avoiding tax. If you believe that HMRC will let you get away with that, I've got a bridge to sell you.

I've spoken to a few French freelancers, who've told me that their marginal tax rate is close to 60% once you factor in mandatory health and social contributions. By comparison, British freelancers seem to get a plum deal without any dodgy offshore fiddles. Most of us pay no more in income tax than an equivalent employee and far less in national insurance.

In my own dealings with HMRC, they have been consistently helpful, professional and straightforward. I tell them the truth, they tell me how much tax I owe, I pay it. Easy peasy. In my early years of freelancing I badly cocked up a tax return, but I promptly admitted my error and HMRC agreed to affordable monthly repayments with no penalties. I hear all sorts of horror stories about HMRC, but most of them have a vaguely suspicious air of half-truth.
>> No. 15571 Anonymous
13th June 2018
Wednesday 6:17 pm
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>>15570
>They were taking "loans" that were really remuneration, for the specific purpose of avoiding tax
This sounds like more or less the same wheeze that the K2 scheme was using.
>> No. 15575 Anonymous
14th June 2018
Thursday 4:55 pm
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>>15571

Not him, but pretty much, yes.
>> No. 15580 Anonymous
14th June 2018
Thursday 6:55 pm
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>>15569
That's along the same lines as an EBT, isn't it? I know a lot of former Glasgow Rangers players are in for a large Tax bill soon as the period of settlement has expired on outstanding tax owed on EBTs.

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