How are you settling?

[MercladUK]

Have you settled or how are you planning on settling?

[StrengthInNumbers]

Why should anyone settle?

[TykeMerc]

Why should anyone settle?

Probably a lot of reasons, not limited to:-

Desire to have it over and done with
Blindly following demands from the Tax Authorities
Feeling bullied
Admission that the schemes were always taking the mickey
Pressured into it by family
Got loads of money so it's a drop in the ocean

[StrengthInNumbers]

Gr8 reasons. Non apply to me so not planning to settle. Instead waiting for day in court

[webberg]

Gr8 reasons. Non apply to me so not planning to settle. Instead waiting for day in court

Might be less than a court decision
No litigation costs
Softer penalties
No more fees to providers
Not "named and shamed" as a tax avoider
Able to negotiate time to pay (OK so probably do that post litigation as well)

[StrengthInNumbers]

No direct case yet proving loan based EBT illegal. Instead all on shore EBTs proved to work. Rangers, UBS and deutche bank to name few.

Promotor putting his own money for up to FTT. Even if promoter not around and enough number - put money together in a group money can be reduced. You need 1M for all the way up to court of appeal. Do the number is 1000 in group and compare to tax due.

Even if not going to court, paying APN instead of settlement gives every contractor an opportunity to get the money back. It will become clear as cases proceed.

I will shame you buy saying you watch xxx unless you give me ... Sorry does not work for me. Will pay what is legally due and not get bullied or black mailed.

If no APN yet, but tax certificate. Stop tax and show money in intent to pay if it comes due.

Penalty for what? No agreeing with HMRC's position? How? What is the proof? Penalties will happen if you do not cooperate with HMRC. Be completely open and respond with all info you have within time limits. Nothing to hide if it is legal.

All is behind after paying HMRC or buy tax certificate as well if you don't do anything stupid. On the other hand I will not be able to sleep if I settle and then find out in a couple of years HMRC's position was wrong. HMRC already has changed from PAYE to ToAA.

I can go on but if you still don't get my drift, settlement opportunity is for you and don't let this opportunity go!

[webberg]

No direct case yet proving loan based EBT illegal. Instead all on shore EBTs proved to work. Rangers, UBS and deutche bank to name few.

Promotor putting his own money for up to FTT. Even if promoter not around and enough number - put money together in a group money can be reduced. You need 1M for all the way up to court of appeal. Do the number is 1000 in group and compare to tax due.

Even if not going to court, paying APN instead of settlement gives every contractor an opportunity to get the money back. It will become clear as cases proceed.

I will shame you buy saying you watch xxx unless you give me ... Sorry does not work for me. Will pay what is legally due and not get bullied or black mailed.

If no APN yet, but tax certificate. Stop tax and show money in intent to pay if it comes due.

Penalty for what? No agreeing with HMRC's position? How? What is the proof? Penalties will happen if you do not cooperate with HMRC. Be completely open and respond with all info you have within time limits. Nothing to hide if it is legal.

All is behind after paying HMRC or buy tax certificate as well if you don't do anything stupid. On the other hand I will not be able to sleep if I settle and then find out in a couple of years HMRC's position was wrong. HMRC already has changed from PAYE to ToAA.

I can go on but if you still don't get my drift, settlement opportunity is for you and don't let this opportunity go!

All valid points TODAY.

1. HMRC will find a weak case and win it and then seek to apply it widely.
2. see the AML thread. Happily paying their way and now a request for fees.
3. Groups - 1,000 is ambitious. £1m is just your side, double that for a loss.
4. APN agreed.
5. Name and shame agreed.
6. CTD agreed
7. Penalty - not agreed. If the scheme is proven wrong then a penalty is on its way.
8. Very subjective

I was discussing today a similar situation on a property scheme.

The members there are dividing around 10% who will fight regardless. perhaps a third who want to settle and the rest who have their heads in the sand.

[StrengthInNumbers]

"Double that for a loss"
No don't need to as generally with HMRC cases it is agreed in start that no party with claim costs.

Penalties: Did people in Boyle case had to pay penalties?
Or costs for HMRC?
Is HMRC paying Rangers costs?
As also in the link I posted for you the other day. Based on professional advice we joined the scheme and had no other way to know whether it will work or not.
Can you post a link to case which shows HMRC can impose penalties in these situations?

In my specific case have done my due diligence and am yet to find a legal case which shows the scheme will fail. It is a fair shot it might be successful and I want to have that shot. Sums involved are not small and I don't want or recommend anyone to rush into settlement and forgo any chance of getting money back. Especially as settlement opportunity is not offering any benefits.

AML I am not related, so am not aware.

[StrengthInNumbers]

Just saw the AML thread and that is just for JR and understandable.

Why do you think promoters like AML who never had a legally binding contract with contractors to defend the scheme have not shut shop and putting their money on line?

[webberg]

Just saw the AML thread and that is just for JR and understandable.

Why do you think promoters like AML who never had a legally binding contract with contractors to defend the scheme have not shut shop and putting their money on line?

Because they're protecting their customer base and probably selling them non DOTAS schemes?