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

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    #31
    In hindsight , i have been naive to say the least but it was sold to me as a legal scheme, with take home pay on a par with a limited company. The only real reason i agreed was that it was put to me the main advantage would be less administrative burden. And i will stress the word sold , i had never heard of the schemes before , its not as if i went looking for their services, i was actually refereed there by a FTSE 250 recruitment agent. Of course had i been able to predict the possibility of retrospective legislation and understood that the legal opinion of a QC means absolutely nothing i would have ticked another box instead. It amazes me that people say well you must have known it was " dodgy" , well its no less "dodgy" than putting a property in trust to avoid inheritance tax \ stamp duty , employing your wife or pretending that all you sales occur in Ireland to avoid 100s of millions of pounds in corporation tax. And certainly a lot less dodgy than using tax payers money for your own financial gain.

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      #32
      Template letter for responding to HMRC consultation

      NTRT have prepared a template letter for people to respond to the consultation. Please alter it in your own words.

      Latest News | No To Retrospective Taxation

      Some people will say it won't count if everyone sends similar letters but HMRC will have to report to the Minister how many responses they got. So every letter does count.

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        #33
        Help Needed

        It's hard to know if the majority of people who are reading this thread are affected or not, regardless of if you are or are not affected your support in this matter is urgently needed.

        What is being proposed in the consultancy document gives HMRC powers that allow them to judge people "guilty until proven innocent" and force money to be paid without any court hearing. Could you imagine if you suddenly got a bill for more money than you could possibly afford, that you would be forced to sell your family home or go bankrupt? If you have children can you imagine how this will affect them, when they have done nothing wrong?

        If you can empathise, please please take just 5 mins to help us, we need as many people to object to what is being proposed as possible - the last document (Raising the stakes on Tax Avoidance) only 31 people responded (most of those professional bodies), we need many many more.

        The letter NTRT guys have put together can be used a template (or even just sign it and send it in)

        Latest News | No To Retrospective Taxation

        If you were in the situation some of us were in, would you not want to ask everyone possible to help?

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          #34
          Originally posted by FTTM View Post
          Not anymore theyre not!!

          Not one contact i have approached have offered any form of help. I find it amazing that with 1000s of people potentially looking at losing their homes and lively hoods no one involved in these schemes feels morally obliged to help the people that no doubt provided them with a very comfortable living.
          Im happy for anyone involved in said scheme to proof me wrong and PM me.
          Hi FTTM,
          Any further news on this? I used ASIOM in 2005/06 and had a strange telephone conversation with HMRC a couple of weeks ago. They are withholding overpaid PAYE from tax year 2012/13 because I am 'under investigation'. However, I have received no formal notification from HMRC regarding my participation in the scheme. Seems like a shakedown!
          I have totally missed this issue, partly because I left the UK permanently in late 2012.
          Would be very keen to compare notes.

          (I don't seem to be able to PM or email you at this point, probably because this is my first post.)

          Comment


            #35
            FSBH did you filed a tax return for 05/06 with full disclosure (DOTAS number with details)? If you did then you should be alright as HMRC is out of time if full disclosure was made.

            Who was the promotor in 05/06 for yr scheme?

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              #36
              I was with the scheme at the time and it was through Dynamic Management Solutions or some similar name. They are long gone but I do know that the same tax advisor who is currently very active was involved. Many of us who participated in the scheme do unfortunately have open queries. All it takes is that one letter and we're caught....
              Last edited by castax; 5 July 2014, 05:49.

              Comment


                #37
                Originally posted by varunksingh View Post
                FSBH did you filed a tax return for 05/06 with full disclosure (DOTAS number with details)? If you did then you should be alright as HMRC is out of time if full disclosure was made.

                Who was the promotor in 05/06 for yr scheme?
                Varunksingh, thanks for responding and sorry for the delayed reply.

                As mentioned above, the promoter was DMS. My tax return for the years in question (Only about 9 months in total but actually across tax years 05/06 and 06/07) were handled through DMS, so the correct information *should* have been included in the relevant tax returns, although somewhat embarrassingly I have not yet located my copies (a legacy of more house moves than I care to recall). I have always been diligent in maintaining an up to date address with the HMRC though, and I don't recall the HMRC sending me a query regarding this. Although it could be stored safely with my tax returns...

                I am guessing that even having participated during 06/07 I should now be (just) outside the window, assuming that I never received a query?

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                  #38
                  When did they first write and say they had an issue with your tax? When they wrote did they say discovery assessment or did they say enquiry? Without that info its very hard to help

                  Comment


                    #39
                    Originally posted by convict View Post
                    When did they first write and say they had an issue with your tax? When they wrote did they say discovery assessment or did they say enquiry? Without that info its very hard to help
                    UPDATE -> OK, after some digging I finally found the right box. I did receive a letter for each of the 2 tax years in question - notices of enquiry, under COP8. I guess my questions still stand. Apologies for any vagueness - when I left the UK this had slipped my mind.
                    -----------------
                    I left the UK in 2012. In May I received a letter from the HMRC on an unrelated matter in which they said I should call XXX at the HMRC. I called and was told that my overpayment was being withheld due to my being under investigation. At the time I had no idea about the EBT furore but I was promised a letter explaining the detail and calculation of what I was owed. I still have not received this.

                    I don't have in my records and cannot recall receiving a letter at any point in the past from the HMRC with regards to my participation in ASIOM (although, I accept that I may have forgotten about it or missed the letter due to frequent moves). What I can say categorically is that I have not received any mail from the HMRC on this subject since mid-2012.

                    My questions to anyone who participated in ASIOM during tax years 2005/06 or 06/07 are - have you received either a discovery assessment or enquiry letter from the HMRC? When was this? Have you had any correspondence from Cascade with regards to this?

                    I hope that gives a bit more background.
                    Last edited by FSBH; 25 July 2014, 19:10.

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                      #40
                      Cop8 enquiry? They own your ass and can take as long as they like

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