Settlement Opportunity

[MrsB1974]

Tax advisor?

Hi - not sure whether this is allowed in the forum, but I'm looking for 2-3 recommendations/suggestions for tax advisors I could contact in order to get advice on this settlement opportunity? Thanks in advance.

I used this scheme during 05/06 and having read most of the thread it looks as though my first steps should be:
- Call HMRC querying whether they have any open enquiries against my name (I've never received notification of any)
- Send a recorded delivery letter *without prejudice* to HMRC requesting a calculation of tax and interest outstanding (Do I submit the DO3 first or wait and see what info they have already?)
- Review with a tax advisor.

FYI, while I was going back through my old contracting emails I came across one from June 2007 where my employer says "...we hope that the structure proved successful for you and we hope that life is going well in your new position here in the UK or back home if you have returned. The Managed Service Company rules in April certainly made life interesting but once again our tax advisors have managed to receive a favourable Counsel Opinion ensuring the salary structure that we introduce contractors to is fully compliant."

... Feeling a bit miffed about being stung as a tax avoider after being led to believe that the scheme was compliant!

Thanks for any advice
(and apologies for the newbie questions)

[TheDandy]

Hi - not sure whether this is allowed in the forum, but I'm looking for 2-3 recommendations/suggestions for tax advisors I could contact in order to get advice on this settlement opportunity? Thanks in advance.

I used this scheme during 05/06 and having read most of the thread it looks as though my first steps should be:
- Call HMRC querying whether they have any open enquiries against my name (I've never received notification of any)
- Send a recorded delivery letter *without prejudice* to HMRC requesting a calculation of tax and interest outstanding (Do I submit the DO3 first or wait and see what info they have already?)
- Review with a tax advisor.

FYI, while I was going back through my old contracting emails I came across one from June 2007 where my employer says "...we hope that the structure proved successful for you and we hope that life is going well in your new position here in the UK or back home if you have returned. The Managed Service Company rules in April certainly made life interesting but once again our tax advisors have managed to receive a favourable Counsel Opinion ensuring the salary structure that we introduce contractors to is fully compliant."

... Feeling a bit miffed about being stung as a tax avoider after being led to believe that the scheme was compliant!

Thanks for any advice
(and apologies for the newbie questions)

Depends what advice you are looking for. If it is just to help with settling and making sure the calculation is correct and no further comeback then perhaps a decent CTA could do it. If you want to take the gloves off then the costs will soon become prohibitive for an individual.

[Rob79]

once again our tax advisors have managed to receive a favourable Counsel Opinion ensuring the salary structure that we introduce contractors to is fully compliant."

"Fully compliant" is meaningless.

"Counsel opinion" is meaningless.

All weasel words designed to imply a degree of approval and security and all nonsense.

HMRC DOES NOT EVER, EVER, GIVE APPROVAL TO SCHEMES IN ADVANCE

(other than certain corporate reorganisations and some offshoring structures)

[jbryce]

once again our tax advisors have managed to receive a favourable Counsel Opinion ensuring the salary structure that we introduce contractors to is fully compliant."

"Fully compliant" is meaningless.

"Counsel opinion" is meaningless.

All weasel words designed to imply a degree of approval and security and all nonsense.

HMRC DOES NOT EVER, EVER, GIVE APPROVAL TO SCHEMES IN ADVANCE

(other than certain corporate reorganisations and some offshoring structures)

What gets me is that these guys are clearly misrepresenting what they do and yet they seem to walk away scot-free.
How?

[MrsB1974]

Depends what advice you are looking for. If it is just to help with settling and making sure the calculation is correct and no further comeback then perhaps a decent CTA could do it. If you want to take the gloves off then the costs will soon become prohibitive for an individual.

Thanks... normally I'm the fighting kind but in this case I want to settle and be done with it. I'm no longer in the UK, I have a toddler and a baby, and zero energy to try and battle an organisation that sounds like it can and will change the rules in their favour!

So yes, I want to be sure the amount I'm paying is accurate. Reading other people's posts it seems as though HMRC's calculations are a tad dubious.

[squirrel]

What gets me is that these guys are clearly misrepresenting what they do and yet they seem to walk away scot-free.
How?

If only we were honest, hard working citizens we could make claims against the schemes for compensation a la Mortgage Endowment and PPI claims eh?!?



(That wasn't meant in any way derisory comment, I'm caught by all this too)

[StrengthInNumbers]

Don't understand why settle. You can conclude it with paying an APN and have a chance in court - but each to its own

[davieloco]

Settlement and Time To Pay

Has anyone settled yet but not had the full funds available as I would be interested in how long Hector will give you to pay or if there is anything in place as these are rather unusual times. Realistically I will not be able to pay the whole amount and have minimal assets but would be able to pay the sum over about 5 years.

I expect the answer is nothing and as quickly as possible.

DL

[AlCapone]

Has anyone settled yet but not had the full funds available as I would be interested in how long Hector will give you to pay or if there is anything in place as these are rather unusual times. Realistically I will not be able to pay the whole amount and have minimal assets but would be able to pay the sum over about 5 years.

I expect the answer is nothing and as quickly as possible.

DL

I beleive 2 years is the max but think you would have to also put down a sizeable down payment

[DonkeyRhubarb]

If you're looking to buy time it might be better to just wait for an APN.

I may be wrong but I suspect HMRC will be more amenable to TTP with an APN. APNs are controversial and they may tread more lightly enforcing them.