Settlement Opportunity

[StrengthInNumbers]

Fisher case important for us. HMRC has appealed agains Anne fisher and Peter & Stephen fisher have appealed against HMRC. Date of receipt in UTT 15th and 14 Jan 15. Awaiting details on hearing date now.

[regron]

Any news on the Rangers Appeal date yet ?

[Not Losing Any Sleep]

Any news on the Rangers Appeal date yet ?

I think there is a procedural hearing next week - possibly 3 Feb, so some way off before any outcome. If they lose, HMRC will of course appeal.

[MrsB1974]

Many promoters have shut up shop leaving users to fend for themselves.

Unfortunately there are a lot of cowboys in the scheme business.

Exactly. If your scheme promoters are going to tribunal on your behalf then you're very lucky.

[Boobetty]

Ok, so I received my settlement calculation on Friday.

The first point is that IHT is not included ("There is no IHT charge up to and including [today's date]") but the threat of IHT looms if any of the following event occur: 1) loan write off, 2) any other event that makes the loans worth less, 3) it is ten years since the trust received funds.

So rather than offering 'finality' we now have an unknown IHT liability and will be in the hands of HMRC forever. Apparently.

Secondly, if you take the Settlement Opportunity and pay in instalments you pay 1% over and above the prevailing rate meaning it would ultimately cost you more to settle than not.

This is insanity. Poorly thought out and poorly executed. If you we're thinking of settling, forget it. I can't believe HMRC could be quite so thick.

[DonkeyRhubarb]

And they call it an "opportunity".

[EBTContractor]

What is this nonsense.

Settlement opportunity should mean finality.

So in 10 years time you'll get stung for IHT?

What the fark is that shower of sh1te up to?

[Boobetty]

This isn't a one-off, the charge occurs every ten years until the loans are written off.

[EBTContractor]

Yes, and then you get another brown envelope with a demand!

[Iliketax]

Ok, so I received my settlement calculation on Friday.

The first point is that IHT is not included ("There is no IHT charge up to and including [today's date]") but the threat of IHT looms if any of the following event occur: 1) loan write off, 2) any other event that makes the loans worth less, 3) it is ten years since the trust received funds.

This IHT is paid by the trust not you. So the question then is have you effectively indemnified the trustee for this? If not, why do you care? If you have then I'd also ask what other costs you I've indemnified them for.