Penfolds / EBT - How far back can HMRC go?

[taxi]

Hi all

I'm after a little help. I used a Cascade / Penfolds EBT scheme 2007/2008 for 6 months.

Got a message from Penfolds 04/SEP/2014 regarding HMRC investigating the scheme. I signed up Reynolds Porter Chamberlain and Saleos to 'handle' any enquirers/appeals.

Heard nothing until 17/JUL/2015 and then HMRC contacted me saying I would receive an Accelerated Payment Notice (APN) within next eight weeks.

Again went quiet until last week 25/SEP/2015 and I received a Reminder for payment - obviously something went missing in the post as I did not receive an calculations.

I have a few questions - I've come to this very late in the day:

1. Is there anything I can do to appeal / object to the notice?
2. I thought HMRC could only go back a certain number of years - anyone know what this is?
3. The payment HMRC say I owe is based on 40% - but using an EBT, I did not recover any expenses such as travelling costs and other capital outlays - could I not offset this again the demand?

Many thanks

[DotasScandal]

Hi all

I'm after a little help. I used a Cascade / Penfolds EBT scheme 2007/2008 for 6 months.

Got a message from Penfolds 04/SEP/2014 regarding HMRC investigating the scheme. I signed up Reynolds Porter Chamberlain and Saleos to 'handle' any enquirers/appeals.

Heard nothing until 17/JUL/2015 and then HMRC contacted me saying I would receive an Accelerated Payment Notice (APN) within next eight weeks.

Again went quiet until last week 25/SEP/2015 and I received a Reminder for payment - obviously something went missing in the post as I did not receive an calculations.

I have a few questions - I've come to this very late in the day:

1. Is there anything I can do to appeal / object to the notice?
2. I thought HMRC could only go back a certain number of years - anyone know what this is?
3. The payment HMRC say I owe is based on 40% - but using an EBT, I did not recover any expenses such as travelling costs and other capital outlays - could I not offset this again the demand?

Many thanks

Hi taxi,

You should contact HMRC immediately if you have received a pre-APN letter and a reminder, but not the APN itself!! You only have 90 days to make a representation, and it would seem the clock is ticking for you without you even knowing it.

In short:

1/ You can submit a so-called representation. The grounds you can base this on are limited.
2/ If you have an open enquiry for the year in question, HMRC can issue an APN.
3/ No.

It looks like you have an awful lot of catching up to do.

- There is a private group for Penfolds users out there. I'm sure someone can chime in to give you joining instructions.

- Go read up on HMRC APN INFO.

- Join BIG GROUP.

PS: keep in mind HMRC reads these forums.

[webberg]

Hi all

I'm after a little help. I used a Cascade / Penfolds EBT scheme 2007/2008 for 6 months.

Got a message from Penfolds 04/SEP/2014 regarding HMRC investigating the scheme. I signed up Reynolds Porter Chamberlain and Saleos to 'handle' any enquirers/appeals.

Heard nothing until 17/JUL/2015 and then HMRC contacted me saying I would receive an Accelerated Payment Notice (APN) within next eight weeks.

Again went quiet until last week 25/SEP/2015 and I received a Reminder for payment - obviously something went missing in the post as I did not receive an calculations.

I have a few questions - I've come to this very late in the day:

1. Is there anything I can do to appeal / object to the notice?
2. I thought HMRC could only go back a certain number of years - anyone know what this is?
3. The payment HMRC say I owe is based on 40% - but using an EBT, I did not recover any expenses such as travelling costs and other capital outlays - could I not offset this again the demand?

Many thanks

1. If RPC/Saleos have taken a fee from you, have they not also done what they can about the APN? I know that they were considering a Judicial Review of the APN and that to be included you had to sign up and prepare a statement. If you have not done that, then you have to make a representation. You ahve 90 days from issue to do that.

2. If there is a valid notice opening an enquiry for the year (section 9A TMA 1970) then unless it has been closed, it's still open. HMRC also claim that a Discovery Assessment has the same effect - something that will come under severe test soon.

3. No.