Tax Avoidance Schemes
You may have heard mention of Tax Avoidance Schemes in the papers or on the news.
Although they are legal and individuals that use them are not in any way breaking the law, they could be considered by many to be unfair as they enable a significant reduction in the amount of tax that a person pays by using various loans and offshore trusts.
They have proven very popular over the past 10 years and they have been promoted aggressively by Accountants, Tax advisers and the Promoters of the schemes. The commissions offered by the promoters to Accountants who introduce new clients to them can be in the thousands of pounds.
At Philip Gurnhill Accountants, we are committed to ensuring that all of our clients pay the minimum amount of tax by ensuring all possible expenses and relief’s are claimed and that your business is structured in the most tax efficient way.
However, this will never include the use of Registered Tax Avoidance Schemes, we make no judgement on individuals who choose to use them, but we will not accept commissions from third parties not will we ever share your details with anyone.
In our experience, individuals who have used Tax Avoidance Schemes in the past are now encountering significant problems with HMRC and we can only see the situation getting more difficult as the Government have gone on record opposing these schemes and have introduced legislation that will have huge effects on individuals who have used these schemes in the past.
If you have difficulties with a historic Tax Avoidance Scheme we would always be pleased to discuss your options with you and offer assistance where we can. Unfortunately We are not able to accept any new clients who still use these schemes, nor will we enter into any business relationships with the promoters of these schemes.
Philip Gurnhill ACMA CGMA