Reply to post: Re: Pay your tax like everyone else

Contractors who used Employee Beneficiary Trusts are in HMRC's sights

streaky

Re: Pay your tax like everyone else

"Contractors have none of that and that's why businesses pay high rates - because they know they can get rid of them at the drop of a hat"

And they have to pay tax on those earnings. Many contractors do at the standard rates. I don't know enough about the specific scheme to be able to comment directly on it but given the HMRC think they're getting money it's fair to assume they think it was obviously bullshit.

Also the HMRC doing idiotic - nay, arguably criminally corrupt - deals with the likes of Voda and many others doesn't negate your requirement to pay tax on your earnings (and yes it sucks). If everybody paid their fair share (i.e. what most other people pay) then no doubt the tax rates could come down generally; rather than the bullshit situation we've dug ourselves into.

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