AML's position regarding
the Dextra Case
The Dextra case was heard and decided in the House of Lords during 2005. It addressed certain issues but post Dextra the position remains that EBTs used properly still provide an acceptable alternative for legitimate tax minimisation. The planning undertaken and offered by AML, including Counsel's opinion, is fully conversant and compliant with the Dextra decision.
Providing Peace of Mind
AML prides itself on its reputation and the best interests of its employees and clients are essential to the management of the business both now and in the future.
Through effective tax planning that is endorsed by leading Tax and Employment Counsel you will always have total peace of mind in knowing that AML is looking after your PAYE obligations and keeping you compliant with current legislation.
- AML's tax planning is fully disclosed to Her Majesty's Revenue & Customs (HMRC). It has its own unique scheme registration number to comply with the 2004 anti-avoidance legislation.
- AML's tax planning is fully endorsed by leading Tax and Employment Counsel. Specifically, the Tax Counsel employed is a leading authority on IR35 matters and often represents HMRC on such cases.
- AML has written Tax Counsel Opinion with regards to the 2007 MSC Legislation, concluding that "AML is neither an MSC provider nor promoter".
- AML has an employment business license issued by the Department of Trade and Industry in the Isle of Man.
- The AML employment solution is IR35 and s660 compliant.
- AML is registered for PAYE with the UK tax authorities and is fully compliant with CIS and holds all necessary regulatory approvals.
- AML uses independent Trustees who are licensed and regulated by the Isle of Man Financial Supervision Commission. This ensures the security of the trust monies held for AML employees.
- AML retains professional advisers, to ensure the business is correctly administered and audited.
- AML are registered with the Isle of Man Data Protection Office and are fully compliant with the Data Protection Act 2002.
MSC Legislation
An MSC is a form of intermediary company through which workers provide their services to end clients. the definition of an MSC in the legislation encompasses both 'composites' and 'managed personal service companies'.
IR35 Legislation
IR35 is a term used to denote United Kingdom tax legislation designed to tax "disguised employment" at a rate similar to employment. In this context "disguised employees" means workers who receive payment from a client via an intermediary and whose relationship with their client is such that had they been paid directly they would be employees of the client.
Section 660
Section 660a of the Income and Corporation taxes Act 1988, also known as the "settlements legislation", refers to income arising under settlement where the settler retains an interest.
Non-UK domiciles
This section addresses the opportunities to reduce or eliminate liability to United Kingdom taxation which arise when a foreign person (whose tax status is referred to as Non-UK Domicile)
