Do 85/15% SDLT schemes work?

Home Forums Patrick Cannon Do 85/15% SDLT schemes work?

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  • #427 Reply
    Chris Hart
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    Whilst researching another issue I came across a series of comments posted by a Darren Ferneyhough promoting a scheme, which appears from other comments on the sites to be very similar to the one mentioned below. He seems to believe that an HMRC reference number gives clearance to a scheme, however he mentions yourself, Reg Nock and Rory Mullan as being the Counsel from whom the supporting advice emanates.
    Chris Hart

    #428 Reply
    Patrick
    Guest

    Thanks. I don’t know this person and while I cannot speak for Reg Nock or Rory Mullan, I have never been a fan of 85/15% schemes and would steer clear of them.

    #429 Reply
    Darren Ferneyhough
    Guest

    Hi Chris, sorry to be somewhat late into this thread – I only recently became aware of it.

    I’m not sure where you got a reference to 85/15% schemes from in relation to anything you’ve received from or discussed with me, but I certainly have not referred to this or any other scheme specifically to any clients or potential clients. Information on what schemes or scheme types may or may not be used in any given case is and always has been outside my remit and only ever happens between a client and the tax adviser determining what scheme should be implemented to best achieve the aims and how. I’m not a solicitor or tax adviser, but those that I work with do what they do on the basis of the guidance and opinion of the counsel already mentioned whose expertise and knowledge in these areas are widely recognised by many (presumably including yourself since you have sought clarification from the same in this thread).

    If I’ve been unclear in any aspect leading you to infer something other than what was intended I apologise and if the unclear information is in the public domain I’d be most grateful if you could point me towards it so that I may clarify it and prevent any other misunderstandings from occurring.

    many thanks

    Darren Ferneyhough

    #430 Reply
    Chris Hart
    Guest

    The site was a blog seeking views on off the shelf SDLT avoidance schemes, a respondent said they did not work, DF responded at length to the contrary. It was apparent from the comments on the site that the information sought was in respect of sub-sale schemes. That is why I suggested that DF’s comments were apparently about 85/15 schemes. The site is one you have responded to so I imagine you will be able to identify it

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