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  1. #1

    Nervous Newbie


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    Default AM Ltd EBT Loan Scheme - No comment from AM Ltd

    I, along with many, made use of the AM Ltd EBT/PBT loan solution. However, they seem to be reluctant to discuss the new retrospective HMRC legislation with regard to loan schemes.

    The message I am getting back from them is that they are waiting for Royal Assent, in July. Since the queen has never refused to rubber stamp such things in the past, isn't this a case of burying their heads in the sand? Shouldn't they be proactively contacting all users to discuss their options?

    I invite any AM Ltd representative to comment.

    I am sure I am not alone in being very concerned about this situation.

  2. #2

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    Default Court Case Pending?

    I think I'm correct in saying that AML have a legal challenge pending, to be heard in June I believe.

    Obviously, legal challenges in this space have not worked out well for tax payers in recent years so I wouldn't be pinning too much hope on a success.

    I agree with what you say though around communication of strategy. This seems to be a typically poor trait amongst even the 'non-fly-by-night' firms.

  3. #3

    Contractor Among Contractors


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    Default

    Whilst I'm sure AML can speak for themselves, my understanding is that they have a legal case coming up and remain of the view that the original analysis is strong.

    In particular I suspect that they feel that as a partnership, the disguised remuneration cannot apply to the arrangement as partners share profits and not salary.

    Technically that position has some strength but also has a number of hurdles to overcome.

    As to communication, I'm not representing AML and cannot say if their strategy in this area is right/wrong, good or bad.

  4. #4

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    Default Why so secretive?

    Quote Originally Posted by TheLastWinja View Post
    I think I'm correct in saying that AML have a legal challenge pending, to be heard in June I believe.

    Obviously, legal challenges in this space have not worked out well for tax payers in recent years so I wouldn't be pinning too much hope on a success.

    I agree with what you say though around communication of strategy. This seems to be a typically poor trait amongst even the 'non-fly-by-night' firms.
    If AM Limited have a legal challenge pending, why aren't they being open and honest about it and advising clients and former clients accordingly? It makes to sense to send out the message that they are awaiting royal assent.

  5. #5

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    Default

    Quote Originally Posted by Smurfburger View Post
    If AM Limited have a legal challenge pending, why aren't they being open and honest about it and advising clients and former clients accordingly? It makes to sense to send out the message that they are awaiting royal assent.

    I agree AML should help its contractors as we are all panicking and I wish I never got involved with them.

  6. #6

    Contractor Among Contractors


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    Quote Originally Posted by Dazza View Post
    I agree AML should help its contractors as we are all panicking and I wish I never got involved with them.
    Can you not ask them directly?

  7. #7

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    Default

    Quote Originally Posted by webberg View Post
    Can you not ask them directly?
    I have done so and I have heard negative stories about them, so it's difficult to know if i should take their advice with 'a pinch of salt'

  8. #8

    Should post faster


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    Default

    Quote Originally Posted by Dazza View Post
    I have done so and I have heard negative stories about them, so it's difficult to know if i should take their advice with 'a pinch of salt'
    what negative stories?

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    Quote Originally Posted by WalterWhite View Post
    what negative stories?
    If you want to PM me then I can tell you what I have been told

  10. #10

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    Default

    My personal view is that the fact AML are still here and taking positive steps such as legal action, when many others have vanished into the night with their fees, speaks volumes.

    I am not connected with AML. I have met some of their people who I have found to be reasonable and sensible. I have seen their scheme in action and believe that the execution matched the documents which again is not always the case.

    My suggestion is that you contact AML and be persistent.

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