BIG GROUP

[Bobo]

Looks like all things are on hold until the Rangers case review is settled, so even if you want to settle you can't.

Let's hope the outcome is better than anyone anticipated.

[BrilloPad]

Looks like all things are on hold until the Rangers case review is settled, so even if you want to settle you can't.

An absolute disgrace. And HMRC sent out a communication recently encouraging people to settle....

[Clairol]

Looks like all things are on hold until the Rangers case review is settled, so even if you want to settle you can't.

Let's hope the outcome is better than anyone anticipated.

Please could you explain how you know that settlements are on hold & why in a bit more detail.

[BrilloPad]

Please could you explain how you know that settlements are on hold & why in a bit more detail.

Some people have contacted HMRC to settle. HMRC have replied that they cannot settle.

I think they said for technical reasons - but might be wrong. However no-one knows for sure. It could be Rangers. It could be lack of HMRC resources. It could be HMRC incompetence. It could be at the request of the HMRC nudge unit. Recently a nudge unit was set up along the lines of the IRS unit. They use psychological profiling.

These days MOST of the important discussion goes on in private forums that are heavily protected. This is for 3 reasons: -
1. Way too many CUK trolls that are almost unmoderated.
2. Statements from CUK being produced in court.
3. Why tell HMRC what is going on.

However the really important stuff is kept off those forums - GCHQ probably have it all and pass to HMRC - though at least they cannot produce it in court.

You have to run to keep up - which is why BG are invaluable if you want to fight and are very useful to help settle with HMRC. When you can settle - I know of one person who settled earlier this year - though they were not in BG.

I am not in BG.

[webberg]

My guess (one I have not discussed with HMRC) is that they are trying to work out how their settlement terms can be consistent with the Rangers decision.

That is a very hard square to circle and I look forward to their explanation in due course.

[ChimpMaster]

My guess (one I have not discussed with HMRC) is that they are trying to work out how their settlement terms can be consistent with the Rangers decision.

That is a very hard square to circle and I look forward to their explanation in due course.

I would have thought HMRC's settlement "terms" would be quite simple: pay us 100% of the tax, plus interest. At a minimum anyway.

HMRC in all its infinite wisdom could have ended this years ago - and still can, if they come out with reasonable settlement terms. Think of all the years and cost it would save them.

I am not part of any scheme but I empathise with those who are at HMRC's mercy.

[BrilloPad]

I would have thought HMRC's settlement "terms" would be quite simple: pay us 100% of the tax, plus interest. At a minimum anyway.

So would most people. However they are not even accepting that.

Remember there may be a disagreement on how much tax is owed. Are scheme fees included? What about expenses? Even if you agree to pay 100% tax on fee income, HMRC may still want penalties. And surcharges.

These are not super-rich people who have dared to try things only allowed by the super-rich. They have to be humiliated.

[BrilloPad]

My guess (one I have not discussed with HMRC) is that they are trying to work out how their settlement terms can be consistent with the Rangers decision.

That is a very hard square to circle and I look forward to their explanation in due course.

There will never be an explanation.

[regron]

So would most people. However they are not even accepting that.

Remember there may be a disagreement on how much tax is owed. Are scheme fees included? What about expenses? Even if you agree to pay 100% tax on fee income, HMRC may still want penalties. And surcharges.

These are not super-rich people who have dared to try things only allowed by the super-rich. They have to be humiliated.

+ IHT !!

[BrilloPad]

+ IHT !!

Indeed.

And of course, once you have settled, the scheme provider/trustees will demand all the loan back.....