I do wonder what ILOVEBHA's company's contingency is for this...if there even is one.
I am not commenting on his firm but usually what happens is when the shit hits the fan the company folds / goes bankrupt and the directors are untraceable.
I do wonder what ILOVEBHA's company's contingency is for this...if there even is one.
I thought about this scheme but something about it , I feel uneasy with. I had a recent client buy at £ 1.65 m and they/we did not use this scheme. I know of a client who used it
How did the scheme that you looked at work?
You say that you thought about using this scheme, but that there was something it you felt uneasy with, but you know of a client that used it. Then you say you haven't looked into any scheme. What are you talking about? Is there definitely only one scheme, and how can you feel uneasy about it if you haven't looked into it?I didn't look into any scheme
As I said I am not comfortable about it and I can guarantee if it all goes belly up, no offense but you will not be seen or traceable for dust. If the clients want to look into it themselves they are free to, I did refer one client to a firm that does this and it was a shambles and the client walked away from it. There have been several schemes recently that have promised the world and turned to shit so I am very careful about what I recommend. I guess I could have earned a few grand from the latest client but I like to sleep at night. Anyway good luck.
I don't disagree with your scepticism about companies running 'schemes'. If most of their work is on such a scheme, then they will clearly not be able to pay all of the saved stamp duty if a court decides it is owed by all clients, so yes, such a company would disappear and the clients would be left with the problem. But I wouldn't dismiss the idea of such a scheme without learning the facts.I am not commenting on his firm but usually what happens is when the shit hits the fan the company folds / goes bankrupt and the directors are untraceable.
You say that you thought about using this scheme, but that there was something it you felt uneasy with, but you know of a client that used it. Then you say you haven't looked into any scheme. What are you talking about? Is there definitely only one scheme, and how can you feel uneasy about it if you haven't looked into it?
On a similar note (but with a very different attitude!) US, how are you getting on with that "get your mortgage/loan repayments written off" scheme you were trumpeting on here a short while back?
How can you be sure any company will still be here tomorrow all we can go on is our good name, years of trading and we have very happy clients.
I am sure there are bad operators around but as under 10% of our business is through using these schemes, why would even risk this if we were not confident in the products.
It is not all about commission as we can earn more money through doing more compliance work but it is about giving our clients every option available and then they can make an informed decision. Am i mistaken but is this not what you want from trusted tax advisers?
I think we are being associated with all the dodgy schemes people hear about in pubs, let me reiterate this scheme has a 100% money back guarantee
Given the sums involved, can I ask who is making this guarantee.
Are appropriate sums of money held in an independant account, is it insurance backed, are the FSA involved etc etc?
I met someone earlier who said that its possible to avoid paying stamp duty on any property in excess of £250k. This is apparently due to some 'loop hole' that I would have thought that the HMRC will investigate and close.
Does anyone on here have any experience of this and how it works?
Transfer the property into an offshore company name and sell the company shares rather than the property is the only legal way i know.
over the table say the house is worth X, but pay the seller Y under the table - so you both lie about the official value or the sell, and draw up a secret squirrel contract.......give the agent a little cut too.
most tax goes from the government straight to the banks for interest on the loans they take (e.g) the bank of england (which is a private bank).
much other tax goes towards arms, soldiers, expenses, etc.
i do not use the state schooling or NHS systems so don't feel your comment is relevant.
do not forget one still does pay tax on my method, but allot less. if you feel stamp duty is worthy then pay away, its up to the individual.
roads come from road tax,and utilities are all private profit making companies these days. again, if you feel stamp duty is worthy you pay it, but don't have a go at me if i feel it more of a legalised mafia theft.
also i have paid lots of tax in my life, it is just that stamp duty, inheritence tax, and a few others don't resonate with me - so i wriggle clear of them.
agreed, but many facets of youth education steer away from this - in all epochs (stiener, alternative education, tibet etc). i am saying that modern education turns out materialistic people stuck in egoistic desire, and nothing about inner happiness and inner peace.
I'd certainly want to look into it a lot more myself if I decided to do it, but bare in mind the purchase of the Chelsea Barracks site, and Labour's own HQ both used the same scheme.
The contract I was privvy to involved the customer agreeing to pay 50% fees (+VAT) of the SDLT that was due at the time of completing the 9 months time frame when no further challenge can be made by the HMRC. For example, an SDLT due of £10,000, you would walk away with approx. £4k if all was successful. If not, then your SDLT would be due as normal and paid from the money you originally deposited with your solicitor. So rather than SDLT costing you £10k, the process has cost you £6k. If unsuccessful it's cost you nothing and you pay your SDLT.
I'd certainly want to look into it a lot more myself if I decided to do it, but bare in mind the purchase of the Chelsea Barracks site, and Labour's own HQ both used the same scheme.
As far as I understand there is nothing illegal in this. You get an official acknowledgment from the HMRC that they have received the application not to pay SDLT, and the 9 month period to act is in the legislation.