[orange1234]

Who want's a huge pay rise, for doing no more work ?

It works like this. If you are already self employed or a director of a company then it's straight forward. You become an employee of our Trust, and direct your income to us. We then loan you back your money (which is now tax free) and we just charge you 1% admin fee. (K2 charge 20% but their scheme is for rich people and they can afford it, this is for everyone else).

If you pay PAYE then you need to tell your boss that you are now a limited company (you can get a Ltd company Here or as little £18) and inform them, as of next pay day they need to pay you without deducting tax and NI. Tell them that this will not only save on payroll costs, they will save 12% NI Employers contribution, and they won't have to pay you holiday pay, so they will jump at it.

On pay day, they are to send your pay to the "Trust" which is set up in Jersey, and what happens is, we loan you back your pay, which is now tax free so you have about 30% more money, (which is like a pay rise)

We will keep the equivalent of 6 weeks pay back (all from tax money) to cover holidays and sickness, and if you don't use it up you can just draw it in cash (as a loan of course, not that you will need to pay it back)

So who want's to join ?

There's a £100 joining fee, which we will send to the treasury as a parting gift from you. (minus our 1% handling fee) I am sure they will appreciate it, as other than VAT they will be stuffed.

[psionic]

Do I have to pretend to be crap comedian to join?

[orange1234]

Originally Posted by psionic

Do I have to pretend to be crap comedian to join?

Certainly not, this scheme is for people who earn less than 100k a year. if you're a crap comedian you will need to pay the likes K2 20%. This is the working people scheme set at 1%

[Analogue110]

Certainly I would, but you will forgive me if I seek independent advice first.

[Landis]

Can you come up with a scheme that will allow me to offer free access to a digital copy of Jimmy Carr's next dvd? I was thinking that maybe it could be offered in exchange for the viewer submitting a short review for a publication which may or may not exist. Of course, the scheme would need to be perfectly legal.
He has admitted to a "terrible error of judgement" (unlike those who came forward to support him........) but the loss of revenue might help him to concentrate next time he meets his accountant.

[Aneechik]

I don't like the idea of giving my money to a company based outside of British jurisdiction, even if it is only Jersey.

[orange1234]

Originally Posted by Analogue110

Certainly I would, but you will forgive me if I seek independent advice first.

Certainly, it's all above board, if you contact the HMRC they will tell you it's legal. These schemes have their blessing.

Originally Posted by Aneechik

I don't like the idea of giving my money to a company based outside of British jurisdiction, even if it is only Jersey.

That's the point, you aren't, you get to keep it all, no more tax, no more NI (minus 1% of course)

I'll even pay you one a week in advance so there's no risk ... secured on something tangible, obviously I wouldn't want you to skip off with £200

Originally Posted by Landis

Can you come up with a scheme that will allow me to offer free access to a digital copy of Jimmy Carr's next dvd? I was thinking that maybe it could be offered in exchange for the viewer submitting a short review for a publication which may or may not exist. Of course, the scheme would need to be perfectly legal.
He has admitted to a "terrible error of judgement" (unlike those who came forward to support him........) but the loss of revenue might help him to concentrate next time he meets his accountant.

Ahh poor guy, he's now paying the full whack and he wouldn't be allowed into this scheme - too rich. Surely he's suffered enough.

[dotty1]

Is your first name Jason by any chance, orange1234? Feeling a bit left out of the loop so you've decided to start a 'perfectly legal' scheme of your own, eh?

[orange1234]

Originally Posted by dotty1

Is your first name Jason by any chance, orange1234? Feeling a bit left out of the loop so you've decided to start a 'perfectly legal' scheme of your own, eh?

I know someone who has Jason in their name

http://www.guardian.co.uk/media/medi...ke-tv-comeback

His scheme will be a rip off though, this is the legit one. (cushty my ol' son.)

I think his about tax and VAT. This one is tax and NI

http://www.youtube.com/watch?v=SKAqmqVQ700

[ShaunIOW]

I know this thread is a wind-up, but I bet if schemes like this were available to everyone and not just the rich then the government would have the loopholes closed before you could say 'morally repugnant'

[classixuk]

Originally Posted by ShaunIOW

I know this thread is a wind-up, but I bet if schemes like this were available to everyone and not just the rich then the government would have the loopholes closed before you could say 'morally repugnant'

Nope they can't close this loophole, it's a loan not income.

The HMRC reckon they would have to make all loans taxable, including mortgages...which obviously they can't do so this scheme is legit.

If there is enough interest then why can't it be available to everyone ?

Let the rich pay 20% fees to the likes of K2 while we pay 1% - that's fair isn't it? The rich should pay more.

[Charlie Drake]

When something appears too good to be true, I usually look for syntax errors.

[orange1234]

Originally Posted by Charlie Drake

When something appears too good to be true, I usually look for syntax errors.

syntax is what you learn at proper schooling so maybe you would be better off in the K2 scheme, and anyway - this scheme is not compulsory Charlie, you have a choice you can pay

1% in the peoples scheme, (= - 100k)
20% in the rich persons scheme,
or around 40% with NI with the government scheme.

Private is always more competitive than state run. and the rich should pay more in tax so they can't join this one.

[15Million℃]

Not sure why anyone would need you to administer this scheme.

It's pretty straightforward and anyone earning enough to make it worthwhile should already have the brain power to arrange it themselves. Unless of course you are already based in Jersey?

[orange1234]

Originally Posted by 15Million℃

Not sure why anyone would need you to administer this scheme.

It's pretty straightforward and anyone earning enough to make it worthwhile should already have the brain power to arrange it themselves. Unless of course you are already based in Jersey?

How would you set the scheme up for yourself ?

It sounds like you are wanting to avoid 1% tax if thats the case then you could be in the super rich bracket, and you could not join this scheme. This scheme is not for greedy people.

[15Million℃]

Originally Posted by orange1234

How would you set the scheme up for yourself ?

It sounds like you are wanting to avoid 1% tax if thats the case then you could be in the super rich bracket, and you could not join this scheme. This scheme is not for greedy people.

Same way you would.

You gave the secret ingredients away in your OP

[Paul_Musgrave]

So do you already have the infastructure in place for such a scheme? Or is this something which is just in the pipeline?

[I, Candy]

I don't fully understand the structure. If the pay is being directed to a Jersey-resident trust, which then loans me the money, what does my limited company do? Where does it come into it?

[Remit]

Not one person has answered my posts how the K2 system is legal.
I think it is fraud- just like this pretend scheme would be.

OK I am fed up with stating all the lies and will ask for the answer to one key one:

HOW IS IT LEGAL TO PRETEND TO GIVE A LOAN THAT IS NOT REALLY A LOAN AS IT DOES NOT HAVE TO BE PAID BACK?.

It avoids tax but surely it is fraud to claim that it is a loan when it isn't?

Will someone please answer this- how come people say it is perfectly legal? It gets on my nerves.

[Landis]

There are people on this forum who have told us that anybody, given the chance, would opt to have the NHS, The Police, all public services, paid for by "Other people, ie: Anybody Except Me."
If that is the case then clearly we are all scumbags who are just waiting to meet the right accountant so that we can pay zero or 1% tax, thus knowing with certainty that the uk economy will be destroyed.

What else are we about to discover? Are people who give their labour or their cash to charity without asking anything in return, all part of some huge scam that will soon be revealed to prove that society is even further into the gutter than anyone realised?

[orange1234]

Originally Posted by Paul_Musgrave

So do you already have the infastructure in place for such a scheme? Or is this something which is just in the pipeline?

Pipeline, (all in place though) I'm just working on media ads at the moment to see if there is sufficient interest. I wouldn't want to waste my time for a scheme no one wants to join except rich people... who aren't allowed in.

Originally Posted by I, Candy

I don't fully understand the structure. If the pay is being directed to a Jersey-resident trust, which then loans me the money, what does my limited company do? Where does it come into it?

If you are working for Asda for example as a check out assistant, then you would be Asda's employee paying PAYE. If you set up a limited company then you are the limited companies employee, and Asda can not charge PAYE to a limited company. It's the limited companies responsibility to deal with all that tax and NI. i.e you can pay 1%.

Originally Posted by Remit

Not one person has answered my posts how the K2 system is legal.
I think it is fraud- just like this pretend scheme would be.

OK I am fed up with stating all the lies and will ask for the answer to one key one:

HOW IS IT LEGAL TO PRETEND TO GIVE A LOAN THAT IS NOT REALLY A LOAN AS IT DOES NOT HAVE TO BE PAID BACK?.

It avoids tax but surely it is fraud to claim that it is a loan when it isn't?

Will someone please answer this- how come people say it is perfectly legal? It gets on my nerves.

ahh well it's a loan if there is a loan agreement and both parties agree. Technically the loan can be paid back...so it's a loan. Loans are tax free.

You can't have governments meddling on how much interest is charged on a loan, or the term (length of time) or the terms of loan. For example, if you agree to loan me your cycle, and we enter into an agreement that in five years you get it back, and if I sing you a song that is payment, if not it's £200 cash. Then I ride to work (20m) and back everyday, and in 5 years I bring it back in a very worn and sorry state. You say OMG stop singing, it's awful... it's knackered...erm you keep it.

Why would that be illegal.

Originally Posted by Landis

There are people on this forum who have told us that anybody, given the chance, would opt to have the NHS, The Police, all public services, paid for by "Other people, ie: Anybody Except Me."
If that is the case then clearly we are all scumbags who are just waiting to meet the right accountant so that we can pay zero or 1% tax, thus knowing with certainty that the uk economy will be destroyed.

What else are we about to discover? Are people who give their labour or their cash to charity without asking anything in return, all part of some huge scam that will soon be revealed to prove that society is even further into the gutter than anyone realised?

Well, I think it's about morality and fair play, after all wer're "British"... we are known worldwide for our honesty and integrity. If rich people can get away with something (which they are) then human nature says ..what about me. In this scheme I redress the balance, the rich can't join they have to pay more and use the schemes like K2 have.

[proviso]

This appears to be a straightforward sham trust.

In other words, it's not a trust, because there was never any intention to create an actual trust. And if it's not a trust, then it won't give you the tax benefits you want.

[orange1234]

Originally Posted by proviso

This appears to be a straightforward sham trust.

In other words, it's not a trust, because there was never any intention to create an actual trust. And if it's not a trust, then it won't give you the tax benefits you want.

No sham, it is a "Discretionary Trust" set up offshore. Just the same as the others. There would be no point in it not being set up properly is there?

[tysonstorm]

Count me in, if it stuffs up the economy and wipes the smug look off the Tories and the banksters faces then I'm all for it.

[Remit]

orange1234, if you can have a loan which you don't have to pay back which is not taxed- why not cut out the middle-man- and just have your employer give you your income as a loan every year, simple as that?