EBT HELL: Assignment Solutions Isle Of Man / Premier Tax Strategies / DMS

[DonkeyRhubarb]

Well if it's going to take 6 figures to hire a QC, with no guarantee you'll get the costs back even if you win, years of stress and then potentially lose anyway then settlement is worth considering. It's a personal choice for everyone. There's no right or wrong.

Personally, if I couldn't afford representation, I'd go to the FTT on my own.

What have you got to lose if you've already handed over the money?

I'd even say to the FTT judge I'm here on my own, and can't afford a lawyer, because those b******s sitting over there used APNs to take all my money.

[sl4]

Right Strategy

Personally, if I couldn't afford representation, I'd go to the FTT on my own.

What have you got to lose if you've already handed over the money?

I'd even say to the FTT judge I'm here on my own, and can't afford a lawyer, because those b******s sitting over there used APNs to take all my money.

You're right, nobody should just be settling when you can have your day in court. Represent yourself, the judge will respect that.

The fact is, HMRC is not prepared to accept full liability for any future loan recall, and they certainly won't be helping you fight off the trust.

[frodo]

You're right, nobody should just be settling when you can have your day in court. Represent yourself, the judge will respect that.

The fact is, HMRC is not prepared to accept full liability for any future loan recall, and they certainly won't be helping you fight off the trust.

Which raises another point. What if you want to get the loans written off because you don't want it hanging over your head? Then you have to settle because it's then income.

[StrengthInNumbers]

ASIOM was being handled by Saleos if I am not wrong for a small fee. Group already exists with Saleos. Have you confirmed with Saleos.

[MrsB1974]

ASIOM was being handled by Saleos if I am not wrong for a small fee. Group already exists with Saleos. Have you confirmed with Saleos.

Lady Penelope contacted Saleos and sent in her info. From memory it took them a while to get back to her and when they did they wanted £500 upfront but without much detail of what she'd get for that.

I've just pm'd Saleos to see where they're up to with things. Thanks for the reminder StrengthInNumbers.

[MrsB1974]

Urgh

So my settlement amount is approx £9k incl interest. I can afford to pay it. I'm no longer living in the UK, I have a toddler and a baby and thus very little time or energy to do anything other than keeping them alive and happy

Whilst I would love to stick it to Hector at FTT, representing myself (or even if a few of us got together), I wouldn't even know where to start. I'm a marketer, not an accountant / legal / tax person so I don't have the expertise to really build a case or anticipate what Hector would throw at us. And all this before I even begin to contemplate the logistics of travelling back to the UK to do it, with children in tow.

The one tax advisor who I contacted for advice said it's better for me to settle as the costs to fight would soon outweigh the settlement amount. (I guess if I represented myself it would be a bit different, but still travel and accomm costs.)

Hector seems to be able to bend the rules or get MPs to make new rules to suit their cause. That's the impression I get from this forum. (Happy to be wrong about this!)

So right now I'm leaning towards paying and moving on.

Although still not entirely clear as to the benefits of paying via settlement or waiting for an APN. Other than a bit more interest. I forget what the outcome was re; NICs - in my latest letter there's nothing along the lines of "better for you to pay now rather than wait for APN as it will have NIC added".

[MrsB1974]

Thanks for the update MrsB. Personally, (assuming IHT is omitted from mine) I shall have a go at settling. However, as I do not work at present I would need several years to pay off my liability. I am not a homeowner and my car is sh1t. Hence the decision on whether to settle or not is in the hands of HMRC. If they agree to a time to pay offer over five years then I may go for that. But the funds would have to come out of the allowance my wife gives me to pay the bills, runs the house, look after the nippers, etc. If they don't agree to it then I have little choice but to fight it.

If they include IHT they won't get a penny. Most of my neighbours are wealthy farmers who won't pay IHT when they die so I am buggered if I am paying it while I am alive. HMRC can just foxtrot oscar.

Hi Boobetty - FYI, my letter mentions that if you need more than two years to pay you can complete the enclosed income & expenditure form (36A1) and provide more info as to why you need longer to pay.

[Rab]

So my settlement amount is approx £9k incl interest.

My settlement amount is close to £300k before interest, if I didn't live in the UK they wouldn't be getting a penny. What can they do if you've left the country?

[Rab]

Well if it's going to take 6 figures to hire a QC, with no guarantee you'll get the costs back even if you win, years of stress and then potentially lose anyway then settlement is worth considering. It's a personal choice for everyone. There's no right or wrong.

I think this is exactly the way HMRC see this going. Issue the APN, take the money and either you have no funds left to fight or you don't have enough to gamble on something you may well lose.

Leaving the UK and living on a beach somewhere is looking more appealing by the day.

[MrsB1974]

There's a discussion in another thread (apologies, can't remember which one) on the topic of living outside the UK, which countries have reciprocal agreements re; tax, etc. I'm in a Commonwealth country and pretty sure they'd happily share info with Hector.

Would they bother for £9k? Who knows!