BIG GROUP

[webberg]

You need to go to a professional and get the advice you want.

I would observe that some of your understanding and perhaps some of the advice/information from the umbrella is questionable and far from proven.

[thecolour]

I'm a long term member

Anyone know where the BG survey results are?

[webberg]

Which ones?

We are also looking to post a new survey soon and would appreciate responses so keep an eye open.

[Mike01]

want to join the group

hi all,

i would like to join this endevour and please advise me on the followin matters first.

I am currently with winchester since january 2015.

I have not been asked to do tax returns for the tax years 2014/2015 to date. i was unemployed for 2 years prior, and the hmrc have adviced me in 2014 to stop my self assestments.

on 2 august 2016, they sent me a letter to do a self assessment for 2014/2015. i rung them up and asked why as i wasn't meeting the criteria. by the end of it, and after some questions i did answer truthfully and knoledgeably they apologised and they said they will close the file. no need to do the tax return.

however, later to that i seem to have discovered what triggerred this. winchester has sent me yesterday an email with my p11d which under the new rule, has to declare any loans made to me in excess of 10k.

i am genuinely now concerned that they will be calling me on taxable loans.

what is your advice?

first of all can i join forces with you at this stage even if i am yet to even submit my tax return. (i suppose that they will write back asking my anyway).

does this mean that i can be regarded as an affected fellow contractor as you have been, or i dont yet qualify for such?

is there any legal footing that the loans scheme (winchester rebranded early in 2015, i had to sign up to their new company) is in fact an actual loan agreament that cannot be taxed?

in effect i am trying to assess how much in trouble i am already. has there been any case where a loan scheme has manage to win hmrc in court as non liable to tax?

i d like to provide full detail to the admins to prove to them my id and my arrangement with winchester. i appreciate that i am still in early stages, but i can see where this is heading.

winchester by the way are saying, that they declare the loans on p11d, and that they are trasparent as per the new legislation. they further commented that the loan agreement they use is compliant with current legislation and that it can not be taxed. how much of it is true?

many thanks, mike.

ps. please take this post as a request to join big group if my personal circumstance as detailed, is eligible. many thanks again.

[DotasScandal]

ps. please take this post as a request to join big group if my personal circumstance as detailed, is eligible. many thanks again.

Hi Mike,
You sound very much eligible for BG.

I'm sure webberg will respond to your questions in due time, but in the meantime I'd suggest you use the electronic form to get the ball rolling.

WTT Big Group

Cheers

[webberg]

In response to the above and a few observations.

First, BIG GROUP is looking for a settlement with HMRC on all contractor schemes in our library (around 120). We have an idea with HMRC now and another couple in development. The emphasis is upon ideas that work for the group.

Second, my firm does help those who have enquiries from HMRC on their personal tax affairs. That is linked with but outside Big Group. As such it attracts fees in the same way as any other professional firm. I would also say that there are any number of tax advisory firms out there, some of which have good strategies and ideas and others who have not a clue. Given the experience of being in a contractor scheme however should have taught you to treat all statements and declarations on tax with a degree of cynicism and caution and I would urge you to exercise those qualities.

Your questions.

1. To have talked HMRC out of an enquiry for a year in which you were clearly in a scheme is a remarkable achievement. Don't rock that boat.

2. Yes you can join Big Group although if you have no actual enquiries there is no need to engage anybody for personal tax work just yet.

3. The loans are probably all "legal". HMRC's position is that the money used to make a loan to you has, in most cases, become taxable on you BEFORE the loan was made. You will therefore have to consider how to deal with the loans even if you reach a tax settlement.

4. To the best of my knowledge no individual contractor has won a case in Court that their scheme was effective. HMRC has won cases where EBTs were used and where non sterling loans were used. The latest case (Murray Group) is at Supreme Court now and should be heard in the next few months. A win there for HMRC will have interesting consequences.

5. I'm not prepared to comment here on Winchester's opinion of their scheme.

6. If you want more PM/email me.

I will lay one myth to rest here.

Self assessment tax returns are REQUIRED where you consider that you have or may have a tax liability.

It is NOT the case that HMRC must ask you for a return. If you think you might be liable you MUST as a legal obligation, make a return.

Where HMRC write to you and say "no more returns", it will be with a caveat that you must let me know if your circumstances change and you may be liable.

Pretty sure that HMRC will regard membership of a contractor scheme as being an event that may make you liable.

[needmorstuff]

hi all,

i would like to join this endevour and please advise me on the followin matters first.

I am currently with winchester since january 2015.

I have not been asked to do tax returns for the tax years 2014/2015 to date. i was unemployed for 2 years prior, and the hmrc have adviced me in 2014 to stop my self assestments.

on 2 august 2016, they sent me a letter to do a self assessment for 2014/2015. i rung them up and asked why as i wasn't meeting the criteria. by the end of it, and after some questions i did answer truthfully and knoledgeably they apologised and they said they will close the file. no need to do the tax return.

however, later to that i seem to have discovered what triggerred this. winchester has sent me yesterday an email with my p11d which under the new rule, has to declare any loans made to me in excess of 10k.

i am genuinely now concerned that they will be calling me on taxable loans.

what is your advice?

first of all can i join forces with you at this stage even if i am yet to even submit my tax return. (i suppose that they will write back asking my anyway).

does this mean that i can be regarded as an affected fellow contractor as you have been, or i dont yet qualify for such?

is there any legal footing that the loans scheme (winchester rebranded early in 2015, i had to sign up to their new company) is in fact an actual loan agreament that cannot be taxed?

in effect i am trying to assess how much in trouble i am already. has there been any case where a loan scheme has manage to win hmrc in court as non liable to tax?

i d like to provide full detail to the admins to prove to them my id and my arrangement with winchester. i appreciate that i am still in early stages, but i can see where this is heading.

winchester by the way are saying, that they declare the loans on p11d, and that they are trasparent as per the new legislation. they further commented that the loan agreement they use is compliant with current legislation and that it can not be taxed. how much of it is true?

many thanks, mike.

ps. please take this post as a request to join big group if my personal circumstance as detailed, is eligible. many thanks again.

I'd just keep my head down if I was you.. join BG by all means to keep your eye on the ball if that's your personality... or don't and just forget about it all and maybe you'll be lucky enough to fly under the radar. One things for sure don't join any more schemes! Or get out if you're in one.. go permanent and you should avoid doing an SA.

[webberg]

go permanent and you should avoid doing an SA.

No - that is poor advice.

As explained elsewhere we have a SELF assessment system.

If you are or may be or possibly be liable to tax or more tax than has already been deducted, then it is your legal obligation to submit a return.

It is NOT an obligation upon HMRC to "find out" you are liable and send you a return.

The legal obligation is yours and failure to meet it comes with penalties etc.

[mahsha]

Recently received a HMRC enquiry for 14-15 re a IQ Contracts Loan Scheme so interested in how to respond.
A question I had with regards to BigGroup.

What does BigGroup give me on top of using WTTconsulting manage response to HMRC service. I'm going to need to provide a formal response through either WTT or similar firm so would like know whether to join big group as well or not.

Thanks.

[neil99]

Recently received a HMRC enquiry for 14-15 re a IQ Contracts Loan Scheme so interested in how to respond.
A question I had with regards to BigGroup.

What does BigGroup give me on top of using WTTconsulting manage response to HMRC service. I'm going to need to provide a formal response through either WTT or similar firm so would like know whether to join big group as well or not.

Thanks.

1. To be part of any settlement negotiation and deal

2. Professional advice, help dealing with HMRC

3. A busy and supportive forum.

4. To be part of various other activities that BG takes part in.

Please email them for more information or an to set up an initial call.

WTT Big Group