Self assessment query section 9a
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  1. #11

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    So even if you accept that there is a "benefit" to HMRC in allowing tax avoidance to continue for a period (a claim that would be easy to rebut), it is way short of showing that HMRC has the power to act against firms or individuals offering arrangements.

  2. #12

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    So;

    If the scheme provider is no longer available , there is 0 chance of getting required information that HMRC potentially require.

    If the scheme provider is still active then there is a chance that the loan would have to be repaid? What are the chances the scheme provider will assist with providing detail to HMRC? Could they possibly provide any information that could change the outcome?

    (Ps. I am shifting my way though the many posts on here to gain further knowledge)

  3. #13

    Contractor Among Contractors


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    Quote Originally Posted by Diamond1 View Post
    So;

    If the scheme provider is no longer available , there is 0 chance of getting required information that HMRC potentially require.

    If the scheme provider is still active then there is a chance that the loan would have to be repaid? What are the chances the scheme provider will assist with providing detail to HMRC? Could they possibly provide any information that could change the outcome?

    (Ps. I am shifting my way though the many posts on here to gain further knowledge)
    You need professional advice because you are entering a world in which little is going to make sense.

    I suggest that you try and find a group with more people who have used the scheme you did and start there.

  4. #14

    TripleIronDad

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    Quote Originally Posted by Diamond1 View Post
    So;

    If the scheme provider is no longer available , there is 0 chance of getting required information that HMRC potentially require.

    If the scheme provider is still active then there is a chance that the loan would have to be repaid? What are the chances the scheme provider will assist with providing detail to HMRC? Could they possibly provide any information that could change the outcome?

    (Ps. I am shifting my way though the many posts on here to gain further knowledge)
    If the scheme provider is still active they will have to pass details to HMRC.

    One scheme provider has already asked for 10% of the loan back.
    Katy Perry - don't be afraid to catch feels. Taylor Swift - feels $1 a go.

  5. #15

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    Quote Originally Posted by BrilloPad View Post
    If the scheme provider is still active they will have to pass details to HMRC.

    One scheme provider has already asked for 10% of the loan back.
    Scheme provider, or Trust?

  6. #16

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    Quote Originally Posted by BrilloPad View Post
    If the scheme provider is still active they will have to pass details to HMRC.

    One scheme provider has already asked for 10% of the loan back.
    If they have asked for 10% back would that confirm to HMRC that it is what it is - a loan?

    Would the scheme provider recall a loan on the basis they can show to hmrc that they are loans?

    If the above is the case would tax still be required to be paid to the remaining 90%?

    And,
    Will the 2019 loan tax override everything thing above?

  7. #17

    TripleIronDad

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    Quote Originally Posted by Diamond1 View Post
    If they have asked for 10% back would that confirm to HMRC that it is what it is - a loan?

    Would the scheme provider recall a loan on the basis they can show to hmrc that they are loans?

    If the above is the case would tax still be required to be paid to the remaining 90%?

    And,
    Will the 2019 loan tax override everything thing above?
    The scheme provider claims to have something up their sleeve. Of course, being specific would give the game away to HMRC!

    Someone who repaid the 10% asked for the money back. The provider refused. That 10% is probably lost for good.

    The more the issue is looked at, the murkier it gets. And the more questions you can ask. No-one seems to know any answers.

    There are 3 options: -
    1. Follow promoters advice.
    2. Join Big Group
    3. Pay HMRC.
    Katy Perry - don't be afraid to catch feels. Taylor Swift - feels $1 a go.

  8. #18

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    There are 3 options: -
    1. Follow promoters advice. - my promoter is active and my last contact with them was earlier today where they have stated they are putting info together. Question here is, can the scheme promoter be trusted? After all they will not be thinking of me as a priority.

    2. Join Big Group since the 2019 loan tax was announced how has this impacted biggroup? Excuse my lack of ignorance here but were BG not created to try to come to a fair settlement for us contractors in this situation? If the 2019 loan tax ruling over rules then what his the gain of joining BG?

    3. Pay HMRC. question is what amount, when? Why? Are HMRC aware of what loans were recieved and when? Or do they estimate?

  9. #19

    TripleIronDad

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    Quote Originally Posted by Diamond1 View Post
    There are 3 options: -
    1. Follow promoters advice. - my promoter is active and my last contact with them was earlier today where they have stated they are putting info together. Question here is, can the scheme promoter be trusted? After all they will not be thinking of me as a priority.

    2. Join Big Group since the 2019 loan tax was announced how has this impacted biggroup? Excuse my lack of ignorance here but were BG not created to try to come to a fair settlement for us contractors in this situation? If the 2019 loan tax ruling over rules then what his the gain of joining BG?

    3. Pay HMRC. question is what amount, when? Why? Are HMRC aware of what loans were recieved and when? Or do they estimate?
    For me personally: -
    1. I would follow scheme providers advice unless they ask for money
    2. If you want to challenge HMRC, BG is the only way forward. HMRC will play hard ball - however a large number of people paying a (relatively) small amount got decent legal advice is the only way forward.
    3. If you do not want to challenge HMRC, then you are in the hands of HMRC. HMRC are not settling at the moment!
    Katy Perry - don't be afraid to catch feels. Taylor Swift - feels $1 a go.

  10. #20

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    Quote Originally Posted by Diamond1 View Post
    There are 3 options: -
    1. Follow promoters advice. - my promoter is active and my last contact with them was earlier today where they have stated they are putting info together. Question here is, can the scheme promoter be trusted? After all they will not be thinking of me as a priority.

    2. Join Big Group since the 2019 loan tax was announced how has this impacted biggroup? Excuse my lack of ignorance here but were BG not created to try to come to a fair settlement for us contractors in this situation? If the 2019 loan tax ruling over rules then what his the gain of joining BG?

    3. Pay HMRC. question is what amount, when? Why? Are HMRC aware of what loans were recieved and when? Or do they estimate?
    The scheme promoter will disappear as soon as it gets hot. Are they still the 'same' promoter, or the same individuals at a different company? My 'old' promoter is still around, albeit in a new form, insisting that the 2019 charge does not apply to their 'arrangement'. That, of course, is total b0l0xs.

    BG is actively seeking a means of finding a solution. You'll need to join to get more information.

    You can try and get a settlement agreement with HMRC and they'll be happy to take your cash. If you're going down this route get some advice.

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