Boyle v HM Revenue and Customs  UKFTT 723 TC03103Posted in: Case Law
Legal BodyOther Tribunals & Courts
Type of Claim / JurisdictionA-Typical Working
The scheme, in question, was marketed by consulting Overseas Limited to independent contractors as a remuneration package. The idea was that it would save them considerable amounts in relation to both income tax and national insurance contributions.
To allow for tax avoidance, the contractors signed up as employees of the Isle of Man Company Sandfield consultants Ltd. They then agreed to accept two thirds of their income as loans in Romanian lei, Byelorussional roubles or Uzbekistani soums. They then entered into currency trades that were meant to turn this income into non-taxable foreign
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