It is shocking that a large number of contractors have lost thousands of pounds after the demise of offshore umbrella company Tract Management. Those contractors affected are attempting to band together to bring justice against the owners of Tract Management who just seemed to disappear from the company’s offices overnight.
With the introduction of BN66 , Disguised Remuneration Legislation (Finance Bill 2011) and the EBT legislation, it proves that HMR&C are serious about closing down schemes that make ‘too good to be true’ claims. The reality of the situation is, despite their promises, companies offering offshore and loan based schemes aren’t safe and you run the risk of the same thing happening with your money as happened to the unfortunate clients of Tract Management. If you live and work in the UK, you are liable for UK taxes and no clever solutions can avoid this fact.
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You contact one of our expert advisors on 01206 713 680 or email us at email@example.com.