Asmg

[cailin dana]

You know - just 'cos a scheme is registered with HMRC doesn't mean it's been approved......

[GwimWeeper]

Kick start discussion

Hi, is anyone here a client or ex-client of ASMG? For the record I was until about 1 year ago. I left on good terms and they were very courteous and professional throughout the two years I was with them.

Recently I've been trying to get in touch with them, but they don't respond to email and their web site is down. I called but haven't been able to speak to anyone but the receptionist. I think something has happened in the year since I left.

Anyone have any info?

[Alf W]

http://www.hmrc.gov.uk/budget2008/bn66.pdf

[GwimWeeper]

Thanks Alf. I wasn't altogether certain if BN66 applied to ASMG. There is a very active forum on BN66 on ContractorUK which I have been following. Much of the fight seems to be focused on Montpellier and a company called MTM (which I hadn't heard of before).

Do you know if they run similar schemes as ASMG or do they just get caught by this same retrospective legislation? I would like to know if any rulings made for or against Montpellier (or MTM) or their contractor clients will apply to ASMG (and me).

[ChimpMaster]

Out of interest, how did ASMG give you your money if it wasn't via a loan?

[Cheshire Cat]

Out of interest, how did ASMG give you your money if it wasn't via a loan?

Who says it wasn't via a loan?

[ChimpMaster]

Who says it wasn't via a loan?

I thought Gwim had said that. So does it fall under BN66, is that why it is being investigated?

I guess I'm trying to work out what (in your Tax Returns) triggerred the HMRC investigations.

[dezze]

ASMG Loan based...

...unless they have some other scheme going.

Participants on the ASMG scheme are subject to enquiry for 2005/06 and 2006/07 - that I know about. These enquiries are not related to BN66, but the loan scheme.

Apparently, this is to be expected as they have been disclosed to HMRC.

[GwimWeeper]

Tazman, Dezze thanks for your comments.

OK, I'm trying to work out if BN66 applies too. As it turns out, after a several days of waiting I got a return call from ASMG (they still answered me by the name ASMG).

The gist of the conversation is that I have nothing to worry about (I'm just delivering the message here - not saying I actually believe it completely). Many many people apparently have been sent the sort of letter I got.

Basically the 2006-7 return deadline was 31 Jan 2008. Hector has one year from that date to lodge an enquiry - or potential enquiry. So what they have done to me is just put their foot in the door, reserving the right to enquire later if they so choose.

As far as my SA is concerned the loans system used by ASMG is completely above board and has repeatedly been registered and disclosed to Hector. My previous SA (2005-6) was never queried even though it was very similar.

What ASMG said to me is that I should not engage with Hector at all in any discussion and instead refer everything back to ASMG - I'll be getting an email from them soon with details on what to do/how to deal with further letters from Hector.

So the good news is that ASMG (like Montpelier and other similarly placed schemes) is fighting back. I don't know if they are presenting a united front or dealing with this as individual firms.

So I'm feeling a bit more confident today. Misplaced? Just have to wait and see.

[Lnz]

hi grim weeper,

i used ASMG for a couple of years and have received a similar letter. in the time that i was engaged with them I found them to be very professional and informative.

i wrapped things up with them when i started my own company.

thanks for your original posts on this topic by the way, i found them very re-assuring!